Question

You deposit $480 each week into an account earning 4.5% interest compounded weekly.

a) How much will you have in the account in 30 years?

b) How much total money will you put into the account?

c) How much total interest will you earn?

Answer 1

Result:

The amount is $7763.37 and the interest is $4263.37.

Explanation:

Problem:

If you deposit $3500 into an account paying 10% annual interest compounded monthly , how much money will be in the account after 8 years?