Suppose you plan to save 670 a month for the first 5 years


Suppose you plan to save $670 a month for the first 5 years (saved dollars are available at the end of each month). Your monthly savings of $670 are deposited into Account #2 which earns you an interest of 8.25% for the first 5 years. The balance at the end of the first 5 years earns 8.39% compounded monthly for the next 5 years. How much will you have in Account #2 10 years from now?

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Financial Management: Suppose you plan to save 670 a month for the first 5 years
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