Emile has deposited $100 at the start of each month to a savings fund for the last 3 ½ years. If the savings have earned 8% compounded quarterly, what is the accumulated value in the fund today
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Emile has deposited $100 at the start of each month to a savings fund for the last 3 ½ years. If the savings have earned 8% compounded quarterly, what is the accumulated value in the fund today
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- Humng Katherine set up a fund that would pay his family $3,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 3.00% compounded semi-annually?Peter set up a fund that would pay his family $4,000 at the beginning of every month, in perpetuity. What was the size of the investment in the fund if it was earning 5.50% compounded semi-annually?For 9 years, Janet saved $500 at the beginning of every month in a fund that earned 4.5% compounded annually. a. What was the balance in the fund at the end of the period? Round to the nearest cent b. What was the amount of interest earned over the period? Round to the nearest cent
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