You make deposits of $400 at the beginning of every month, into an account paying 8%...

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Question

Finance

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:
a.136,338
b.137,338
c.138,338
d.139,338

Answer & Explanation Solved by verified expert

4.2 Ratings (853 Votes)

Information provided Monthly deposit 400 Time 15 years12 180 months Interest arte 812 067 The question is concerning finding the future value of an annuity due Annuity due See Answer

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You make deposits of $400 at the beginning of every month, into an account paying 8%...

50.1K

Verified Solution

Question

Finance

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:
a.136,338
b.137,338
c.138,338
d.139,338

Answer & Explanation Solved by verified expert

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You make deposits of $400 at the beginning of every month, into an account paying 8%...

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Question

Finance

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:a.136,338b.137,338c.138,338d.139,338

Answer & Explanation Solved by verified expert

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Transcribed Image Text

Other questions asked by students

You make deposits of $400 at the beginning ofevery month, into an account paying 8% interest compounded monthly.The value at the end of 15 years is:
a.136,338
b.137,338
c.138,338
d.139,338