Harmon Whittaker
01/07/2024 · Junior High School

You deposit \( \$ 400 \) each month into an account earning \( 7 \% \) interest compounded monthly. Round to the nearest cent as needed. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn?

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a) After 20 years, the account will have approximately \$206,400. b) The total money deposited over 20 years is \$96,000. c) The total interest earned will be approximately \$110,400.

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