Suppose You Deposit $200 at the End of Every Month

question 104

Short Answer

Suppose you deposit $200 at the end of every month into a bank account that pays 6% compounded monthly.After six years,how much will you have?

---

Definitions:

P(A And B)

The likelihood that events A and B will happen simultaneously.

Independent Events

Two or more events are independent if the occurrence of one does not affect the probability of the other(s).

P(A)

The probability of event A occurring in a given statistical experiment.

P(B)

In probability, represents the likelihood or chance of a particular event B occurring.