How much amount will be in account after forty years, Microeconomics

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How much amount will be in account after forty years

You open a savings account to save retirement. Every month you put $100 into a savings account which pays 8% interest compounded monthly. At the end of each year you receive a $500 bonus which you place directly into your retirement fund. How much is in this account after 40 years?

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Microeconomics: How much amount will be in account after forty years

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Microeconomics: How much amount will be in account after forty years

Reference No:- TGS061633

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Explain inexpensive input in many production processes

Q : Find the market equilibrium price and quantity

Q : How many exemptions should margaret and john claim

Q : Cost of the raw materials requisitioned

Q : How much amount will be in account after forty years

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: How much amount will be in account after forty years

Reference No:- TGS061633

Recent Questions Asked Microeconomics

Q : Explain inexpensive input in many production processes

Q : Find the market equilibrium price and quantity

Q : How many exemptions should margaret and john claim

Q : Cost of the raw materials requisitioned

Q : How much amount will be in account after forty years

Q : While on the mount of beatitudes, what specifically

Q : Dave hope to satisfy by owning a gun

Q : Stake when a dance style or technique is appropriated

Q : Which sentence is correct

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