Ashley makes deposits of $293 monthly (at the end of each month) into an account that pays 1.7% interest compounded monthly.
How much money will be in the account after 5 years?
Given the following:
P=$293, r= 1.7%(0.017), n= 5, and m= 12
The FV of the deposits is given as
The amount in the account after 5 years will be $183661.93