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You make monthly deposits of $1,000 in a bank starting at the end of month 1 and lasting 5 years (the last deposit is at the end of month 60). What is the future value of these deposits right after your last deposit? Assume the nominal annual interest rate is 6% compounded monthly.

Please show work, and the equations that are used to get the answer.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91520274

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