A man decides to save 1500 at the beginning of every month, Ask an Expert

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A man decides to save $1,500 at the beginning of every month for the next five years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 4.5% interest compounded monthly. The first deposit will be made today. After five years, how much will be in this man’s safety net fund? Round your answer to the nearest dollar.

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Financial Management, Finance

Category:- Financial Management
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