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MATH

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Determine how much would be accumulated at the end of 10 years at 7.5% interest if Woody saved $30 every month.

  • MATH -

    I will assume that 7.5% per annum is compounded monthly.
    so i = .075/12 = .00625

    amount = 30 ( 1.00625^120 - 1)/.00628 = 5337.91

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