Michelle is attending college and has a part-time job. Once she finishes college, Michelle would...
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Michelle is attending college and has a part-time job. Once she finishes college, Michelle would like to relocate to a metropolitan area. She wants to build her savings so that she will have a nest egg to start her off. Michelle works out her budget and decides she can afford to set aside $200 per month for savings. Her bank will pay her 4% per year, compounded monthly, on her savings account. What will be Michelles balance in five years?
Michelle is attending college and has a part-time job. Once she finishes college, Michelle would like to relocate to a metropolitan area. She wants to build her savings so that she will have a nest egg to start her off. Michelle works out her budget and decides she can afford to set aside $200 per month for savings. Her bank will pay her 4% per year, compounded monthly, on her savings account. What will be Michelles balance in five years?
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