You recently got hired a company offering a retirement account. You have decided to put $500 each month into the account that pays 5% compounded monthly. You will continue to put $500 each month into the account for the next 30 years. How much money will be in the account at that time? How much money did you deposit into the account over the 30 years? (amount of periodic deposit x times deposited each year x # of years)
How much interest did you earn from problem #3? (Interest earn = Ending Balance - amount deposited (answer to #4)
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