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Home > PC > Chapter 7 > Lesson 7.3.1 > Problem 7-99


Abra is saving to buy a car. She has found a very generous bank that will give her interest every month ( annual interest compounded monthly). Each month Abra adds to the account. How much will Abra have saved after one year? Hint: Think of each deposit as a separate investment. The first will receive interest for months, the 2nd 0 deposit will receive interest for months, and so on. The 12th deposit does not get any interest.

1st month
2nd month
3rd month
4th month
5th month
6th month
7th month
8th month
9th month
10th month
11th month
12th month