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OpenStudy (anonymous):
Mr. Sparky puts away $250 from each monthly paycheck into an account that returns 7.89% annual interest compounded monthly for his retirement. How much will Mr. Sparky have saved up in his account if he makes these deposits for 20 years? When he retires, he plans to live on the interest he earns each month. How much in interest will he earn each month? (assume he can get the same interest rate as in part a)
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OpenStudy (anonymous):
$1296
OpenStudy (anonymous):
@chuckdeegan is that for the first part?
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