Kym plans to deposit $100 in an account at the end of each month for the next five years so that she can take a trip
January 11th, 2018
Kym plans to deposit $100 in an account at the end of each month for the next five years so that she can take a trip. If Kym’s opportunity cost rate is 6 percent compounded monthly, how much will she have in the account in five years ? How much will be in the account if the deposits are made at the beginning of each month ? Could you also please show the equation.