Question

You deposit $1000 at the end of each month in an account that pays a 3%...

You deposit $1000 at the end of each month in an account that pays a 3% interest rate compounded monthly.

1. How much will be in the account after 10 years? 2. What was your total contributions? 3. How much interest did you earn?

Please print clearly. thanks!

Math   Algebra   
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Answer #1

1. Amount after 10 years= 139741.42

2. Your contribution = 120000

3.interest earned = 19741.42

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