Math Problem Statement
You deposit $400 each month into an account earning 3% interest compounded monthly.
a) How much will you have in the account in 15 years?
$
b) How much total money will you put into the account?
$
c) How much total interest will you earn?
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Future Value of an Annuity
Formulas
Future Value of an Annuity formula
Theorems
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Suitable Grade Level
High School
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