Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

You deposit $400 each month into an account earning 3% interest compounded monthly.


a) How much will you have in the account in 30 years?


$


b) How much total money will you put into the account?


$


c) How much total interest will you earn?


$

Sagot :

3% means 1.03 per year

multiplier 1.03

After 30 years

400 x[ (1.03) 30 times] = $970.91

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.