1
answer
0
watching
69
views

What is the future value of a $500/month deposit at the end of 3 years? Your first deposit occurs now (at time 0) and your last deposit is at the end of period 36. the interest rate is 12% compounded monthly. Note: since the interest is compounded monthly, you'll want to use months as the time period for the problem. The applicable interest rate for each month would therefore be 1%. Please show work thanks.

For unlimited access to Homework Help, a Homework+ subscription is required.

Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in

Related textbook solutions

Related questions

Weekly leaderboard

Start filling in the gaps now
Log in