Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

تمرين 98

Hi-Tech Hardware has been in business for a few years and is doing well. The owner has decided to save for a future expansion to a second location. He invests $1,000 at the end of every month at 12% interest compounded monthly.
a. How much will be available for the second store after
years
b. How much would be in the account if the owner saved for 5 years
c. How much would be in the account after 5 years if it had been an annuity due