Question 1074811
hank and peggy are saving money to purchase a new pickup truck. They decide to deposit $100 per month into an account paying 5.25% interest compounded monthly. Determine the value of their account after 5 years.
<pre>Correct answer: {{{highlight_green("$6,844.17")}}} 		
<b>FYI:</b> The FUTURE VALUE of 60 $100 monthly payments cannot amount to over $29,000 in 5 years, unless of course, 
it's invested at an interest rate of about 55%. So, IGNORE anyone who suggests that that amount is correct!