document.write( "Question 1146477: Jenny puts aside $20 at the end of each month for 3 years. How much will she have then of the investment earns 8.2% p.a., paid monthly? \n" ); document.write( "
Algebra.Com's Answer #767747 by Theo(13342)![]() ![]() You can put this solution on YOUR website! the investment is 20 dollars at the end of each month for 3 years = 3 * 12 = 36 months. \n" ); document.write( "the interest rate if 8.2% per month compounded monthly = 8.2% / 12 = .6833333333...% per month. \n" ); document.write( "it's a never ending decimal, but carrying out the 3's for 8 positions is usually sufficient.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "using the online calculator at https://arachnoid.com/finance/, i get a future value of $813.16 after i click on FV.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "my inputs and outputs are shown below, using this online calculator.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " ![]() \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " ![]() \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |