SOLUTION: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will you have in the account in 20 years? $ b) How much total money will

Question 1195624: You deposit $100 each month into an account earning 8% interest compounded monthly.
a) How much will you have in the account in 20 years?
$

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

c) How much total interest will you earn?
$

Answer by ikleyn(52813) (Show Source): You can put this solution on YOUR website!
.

You did it very well by coming with your question to this forum.

I will not solve the problem for you - - - I will do better: I will teach you on how you can solve it
on your own, by showing you a TEMPLATE of just solved similar problem.

See the lesson
- Solved problems on Ordinary Annuity saving plans
in this site, Problem 3.

Use this template to solve the given problem in the same way.

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