You are making ​$200 monthly deposits into a savings account that pays interest at a nominal rate of 3​% per​ year, compounded monthly. What is the future equivalent value of this account after five years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
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You are making ​$200 monthly deposits into a savings account that pays interest at a nominal rate of 3​% per​ year, compounded monthly. What is the future equivalent value of this account after five years? 

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