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You deposit $300 each month into an account earning 7% interest compounded monthly.

How much will you have in the account in 15 years?

How much total money will you put into the account?

How much total interest will earn?

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2 answers

  1. Here's the Link:
    www.wyzant.com/resources/answers/270665/you_deposit_300_each_month_into_an_account_earning_7_interest_compounded_monthly

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  2. What's the point of the link, it does not show the formula
    and it is a different question.

    Yours:

    amount = 300( (1+.07/12)^180 - 1)/(.07/12)
    = $95,088.69

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