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You are able to place 393 every month at the end of the

Finance: FV and PV of annuity non-annually

You plan to buy a house in 14 years. You want to save money for a down payment on the new house. You are able to place $393 every month at the end of the month into a savings account at an annual rate of 4.94 percent, compounded monthly. How much money will be in the account after you made the last payment?

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Finance Basics: You are able to place 393 every month at the end of the

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