SOLUTION: Suppose you invest $78 a month in an annuity that earns a 2.8% APR, compounded monthly. How much money will you have in this account after 4 years?

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Question 1113630: Suppose you invest $78 a month in an annuity that earns a 2.8% APR, compounded monthly. How much money will you have in this account after 4 years?

Answer by ikleyn(52775)   (Show Source): You can put this solution on YOUR website!
.
How much money will you have in this account after 4 years = 


=  = 3956.84.


Answer.  $3956.84.

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    - Ordinary Annuity saving plans and geometric progressions
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