deposit $150.00 per month for 312 months. average interest is 4%. how much money will be account at the end?
I assume that 4% is an annual rate,
so
i = .04/12 = .00333...
amount = 150( 1.00333...^312) - 1)/.00333..
= $82,094.77
so
i = .04/12 = .00333...
amount = 150( 1.00333...^312) - 1)/.00333..
= $82,094.77