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-   -   If you put $100.00 into a savings account each month, how much will you have at the e (https://www.askmehelpdesk.com/showthread.php?t=727174)

  • Jan 9, 2013, 08:23 PM
    zdub
    If you put $100.00 into a savings account each month, how much will you have at the e
    If you put $100.00 into a savings account each month, how much will you have at the end of one quarter if the account pays 6 percent annual interest that is compounded quarterly?
  • Jan 10, 2013, 05:05 AM
    paraclete
    You don't need a calculator to answer this question it is mental arithmetic

    100+100+100 + [100*.06/12] + [100*.06/6] + [100*.06/4] assuming the investment is made on the 1st day of each month. To be absolutely correct we would need to know the start date and calculate interest on the number of days
  • Jan 10, 2013, 07:59 AM
    zdub
    Awesome paraclete, that helped a lot, thank you!

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