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Homework answers / question archive / Suppose a recent college graduate's first job allows her to deposit $150 at the end of each month in a savings plan that earns 9%, compounded monthly

Suppose a recent college graduate's first job allows her to deposit $150 at the end of each month in a savings plan that earns 9%, compounded monthly

Economics

Suppose a recent college graduate's first job allows her to deposit $150 at the end of each month in a savings plan that earns 9%, compounded monthly. This savings plan continues for 15 years before new obligations make it impossible to continue.

How much money has accrued in the account at the end of the 15 years? (Round your answer to the nearest cent.)

If the accrued amount remains in the plan for the next 15 years without deposits or withdrawals, how much money will be in the account 30 years after the plan began? (Round your answer to the nearest cent.)

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