UNIT 1: MONEY $ MONEY $ MONEY
What if they would deposit $666.66 monthly into the savings account that pays 3% interest compounded monthly? They would have $8,110.84 at the end of the year. What is the difference if their account earns 6% APR compounded monthly? $8,223.63 – $8,110.84 = $112.79 ................
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