SOLUTION: MAT: Topics In Contemporary Math Annuities 2) Thrifty Theo deposits $85 per month into an account that pays 4.8% annual interest. How much interest income will Thrifty Th

Question 1194118: MAT: Topics In Contemporary Math
Annuities
2) Thrifty Theo deposits $85 per month into an account that pays 4.8% annual interest.
How much interest income will Thrifty Theo have after 27 years? HINT: Find the total
in the account and the total of just the deposits. The interest income will be those values
subtracted!
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
.

The problem's formulation is incomplete, since it does not specify the compounding period (months; quarters . . . )

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