Concept explainers
Annuities. Yukiko opens a savings account to pay for her new baby’s college education. She deposits $200 every month into the account at an annual interest rate of 4.2%, compounded monthly. $22,772.48
a. Find
b. What is the value of Yukiko’s account after 8 yr?
c. What is the rate of change in the value of Yukiko’s account after 8 yr?
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Calculus and Its Applications (11th Edition)
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