document.write( "Question 1175522: You deposit $400 a month into an account earning 5% interest compounded monthly.
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document.write( "How much will you have in the account in 35 years?
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document.write( "How much total interest will you earn? \n" );
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Algebra.Com's Answer #801415 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! This is P=p(1+(r/t))^nt-1)/(r/t), where r/t=.05/12 and nt=35*12=420 \n" ); document.write( "=400(1.0041667^420-1)/.00416667 \n" ); document.write( "round at the end. \n" ); document.write( "=$454,436.97 \n" ); document.write( " \n" ); document.write( " |