Here's the Link:
www.wyzant.com/resources/answers/270665/you_deposit_300_each_month_into_an_account_earning_7_interest_compounded_monthly
You deposit $300 each month into an account earning 7% interest compounded monthly.
How much will you have in the account in 15 years?
How much total money will you put into the account?
How much total interest will earn?
2 answers
What's the point of the link, it does not show the formula
and it is a different question.
Yours:
amount = 300( (1+.07/12)^180 - 1)/(.07/12)
= $95,088.69
and it is a different question.
Yours:
amount = 300( (1+.07/12)^180 - 1)/(.07/12)
= $95,088.69
1 answer