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Joanne believes that it's time to start thinking about her future. Her bank offers a savings account that compounds monthly at an APR of 3.8%. Suppose she decides to deposit 200$ into her account each month until she retires in 35 years

a) What will Joanne's savings account balance be after 35 years?

b) How much of the total was deposited by Joanne and how much did she earn in interest?

c) What percentage of the balance was earned in interest?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9980830

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