SOLUTION: What will deposit of $80 made at the end of each month amount to after 4 years if interest is 4.8% compounded monthly?

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Question 1141890: What will deposit of $80 made at the end of each month amount to after 4 years if interest is 4.8% compounded monthly?
Answer by VFBundy(438) About Me  (Show Source):
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Total = %28PMT%2A%28%28%281+%2B+r%2Fn%29%5E%28nt%29-1%29%2F%28r%2Fn%29%29%29

PMT = 80; r = 0.048; n = 12; t = 4

Total = %2880%2A%28%28%281+%2B+0.048%2F12%29%5E%2812%2A4%29-1%29%2F%280.048%2F12%29%29%29 = $4224.13