Math106
posted by Terri .
A couple deposits 459 per month paying 6% compounded monthly how much would be in the account in 5 years

paym = 459
n = 5(12) = 60
i = .06/12 = .005
amount = 459 ( 1.005^60  1)/.005
= ...
you do the buttonpushing.
Respond to this Question
Similar Questions

Math
The winner of a popular lottery is offered one of two options: i) a lump sum of $102 500 ii) $1000 every month for 10 years If the money can be invested at 3.0% p/a, compounded monthly, which option should the winner choose? 
math
Tim deposits $10 every month into a retirement account which averages 18% interest compounded monthly. How much will be in this account after 45 years? 
math
Tim deposits $10 every month into a retirement account which averages 18% interest compounded monthly. How much will be in this account after 45 years? 
Math
Tim deposits $10 every month into a retirement account which averages 18% interest compounded monthly. How much will be in this account after 45 years? 
Math
Tim deposits $10 every month into retirement account which averages 18% interest compounded monthly. How much will be in this account after 45 years? 
finite math
in order to accumulate enough money for a down payment, a couple deposits $618 each month into a account paying 3% compounded monthly. if payments are made at the end of each period, how much will the account have in 6 years? 
math
Rochelle deposits $350 in an account that earns 6% annual interest, compounded quarterly. How much money will be in the account in 8 years? 
math
28.Nadia intends to get married in eight years time. She estimates that the cost of the wedding will be RM20000 then. She intends to save this amount by making equal monthly deposits at the end of each month in a bank that pays 5% … 
math
Nadia intends to get married in eight years time. She estimates that the cost of the wedding will be RM20000 then. She intends to save this amount by making equal monthly deposits at the end of each month in a bank that pays 5% compounded … 
finance
Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $470 per month invested at 5%, compounded monthly, for 7 years; then $709 per month …