Kym plans to deposit $130 in an account at the end of each month for the next three (3) years so she can take a trip. If Kym's opportunity cost is 9 percent compounded monthly, how much will she have in the account in three years? Do not round intermediate calculations. Round your answer to the nearest cent.   How much will be in the account if the deposits are made at the beginning of each month? Do not round intermediate calculations. Round your answer to the nearest cent.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 11PROB
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Kym plans to deposit $130 in an account at the end of each month for the next three (3) years so she can take a trip.

  1. If Kym's opportunity cost is 9 percent compounded monthly, how much will she have in the account in three years? Do not round intermediate calculations. Round your answer to the nearest cent.

     

  2. How much will be in the account if the deposits are made at the beginning of each month? Do not round intermediate calculations. Round your answer to the nearest cent.

     

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