Question 1126544
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It is a classic Ordinary Annuity saving plan. The general formula is 


    FV = {{{P*(((1+r)^n-1)/r)}}},    (1)


where  FV is the future value of the account;  P is your monthly payment (deposit); r is the monthly percentage yield presented as a decimal; 
n is the number of deposits (10, in this case).


Under the given conditions, P = 6000;  r = 0.12/12;  n = 10.  So, according to the formula (1), you get at the end of the 10-th month


    FV = {{{6000*(((1+0.12/12)^10-1)/((0.12/12)))}}} = {{{6000*(((1+0.01)^10-1)/0.01)}}} = $62773.28.


Note that Cardo deposits only  10*$6000 = $60,000.  The rest is what the account earns/accumulates in 10 months.
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On Ordinary Annuity saving plans, &nbsp;see the lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Ordinary-Annuity-saving-plans-and-geometric-progressions.lesson>Ordinary Annuity saving plans and geometric progressions</A>

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Solved-problem-on-Ordinary-Annuity-saving-plans.lesson>Solved problems on Ordinary Annuity saving plans</A>

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