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OpenStudy (anonymous):
In order for Miles to purchase a boat in eight years, he will deposit $150 every quarter to a savings account with 2.98% interest, compounded monthly. What is the future value of this account in eight years?
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OpenStudy (nurali):
A=P(1+r)^nt Compound interest formula...make the data first. r=2.98 =0.298 t=time 8 years. A=$150
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