Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Suppose that you earn $39,600 per year. What is your monthly salary? $ 3300 Assume that you deposit 10% of your monthly salary into an investment account with an APR of 4.3% every month for 30 years. We will assume for simplicity that your salary never changes, so you are depositing the same amount every month for 30 years. What will the balance of your investment account be after 30 years? Round your answer to the nearest cent. The balance of the account is $ ( How much of the investment account balance is interest? The amount of interest in the account is $
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Transcribed Image Text:Suppose that you earn $39,600 per year. What is your monthly salary? $ 3300 Assume that you deposit 10% of your monthly salary into an investment account with an APR of 4.3% every month for 30 years. We will assume for simplicity that your salary never changes, so you are depositing the same amount every month for 30 years. What will the balance of your investment account be after 30 years? Round your answer to the nearest cent. The balance of the account is $ ( How much of the investment account balance is interest? The amount of interest in the account is $
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