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Richard contributed equal deposits at the end of every month for 4 years into an investment fund.
He then decided to stop making payments and left the money in the fund to grow for another 4
years. The fund was earning 4.32% compounded monthly for the entire period and the
accumulated amount at the end of the term was $100,000.

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Richard contributed equal deposits at the end of every month.pdf

  • 1. Richard contributed equal deposits at the end of every month for 4 years into an investment fund. He then decided to stop making payments and left the money in the fund to grow for another 4 years. The fund was earning 4.32% compounded monthly for the entire period and the accumulated amount at the end of the term was $100,000.