Asked by BYUI
Mr. Smith wants to save for his son's college education. If he deposits $400 each month at 3% compounded monthly, how much will he have in the account after 48 months?
Answers
Answered by
Steve
surely you have the formula for the future value of such a cash stream. If not, here's a site with the formula and a calculator.
http://keisan.casio.com/exec/system/1234231998
http://keisan.casio.com/exec/system/1234231998
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