Patel Peters
10/14/2024 · Junior High School

You deposit \( \$ 500 \) each month into an account earning \( 6 \% \) interest compounded monthly. 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 \$231,080. b) The total money deposited over 20 years will be \$120,000. c) The total interest earned will be approximately \$111,080.

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