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We have considered the case of regular deposits at the end of each month. If...

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Accounting

We have considered the case of regular deposits at the end of each month. If deposits are made at the beginning of each month, then the formula is a bit different. Balance after deposits=Deposit(1+)(1+)1 Here, is the monthly interest rate (as a decimal), and is the number of deposits. The extra factor of 1+ accounts for the interest earned on the deposit over the first

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