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If an individual saves $5,700 and elects to place the total dollar amount into a savings account earning 2.75% APR compounded...Asked by Chuck
If an individual saves $5,700 and elects to place the total dollar amount into a savings account earning 2.75% APR compounded monthly, how much will the original deposit grow to in 12 years?
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Answered by
Reiny
i = .0275/12 = .002291666...
what is 5700(1.00229166..)^144 ?
what is 5700(1.00229166..)^144 ?