You deposit $100 each month into an account earning 5.8% interest. Round all answers to the nearest cent as needed. a) How much will you have in the account in 35 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $

You deposit $100 each month into an account earning 5.8% interest. Round all answers to the nearest cent as needed. a) How much will you have in the account in 35 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

You deposit $100 each month into an account earning 5.8% interest.
Round all answers to the nearest cent as needed.
a) How much will you have in the account in 35 years? $

b) How much of this money did you deposit? $

c) How much of this money is interest earned? $

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