MB2000
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Isabell decided to put $245 in her savings account at the end of every month, Find the amount she has at the end of 10years, if the account has and ARP of 6.4% compounded monthly. Answer rounded to the nearest cent.

Respuesta :

Answer:

$2606.80

Step-by-step explanation:

$21.72 first month =  S(t) 245 x 1.064^1/12 months if compounded monthly

S(t) 245 x 1.064^1/12 x 12 x 10  = $2606.80

S(t) 245 x 1.064^10 = 455.598582251

Rounded to nearest cent = $455.60

$455.60 after 10 years. if compounded yearly

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