You decide to save money to buy a car by opening a special account at a bank that offers 8% APR compunded monthly. You deposit $300 each month for 36 months. How much will you have in your account in 36 months?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 31P
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You decide to save money to buy a car by opening a special account at a bank that offers 8% APR compunded monthly. You deposit $300 each month for 36 months. How much will you have in your account in 36 months?

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