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6.6 Exercise 9

Avg difficulty 2.5

Jill has an account that bears 3.75% interest compounded monthly. She decides to deposit $250.00 each month, at the end of the compounding period, into this account. What is the future value of this account, after 8 years?

OpenStax Contemporary Mathematics, 6.6 Methods of Savings, exercise 9

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.