Solution-How much will lauren have in her account

How much will lauren have in her account

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Question: SAVINGS PLAN Lauren plans to deposit $5000 into a bank account at the beginning of next month and $200/month into the same account at the end of that month and at the end of each subsequent month for the next 5 yr. If her bank pays interest at the rate of 6%/year compounded monthly, how much will Lauren have in her account at the end of 5 yr? (Assume she makes no withdrawals during the 5-yr period.)

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How much will lauren have in her account

Reference no: EM131556489

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