A person saves $100 in a bank account at the beginning of each month. The bank offers a return of 12% compounded monthly. a. Determine the total amount saved after 12 months. b. After how many months does the amount saved exceed $2000?
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A person saves $100 in a bank account at the beginning of each month. The bank offers a return of 12% compounded monthly.
a. Determine the total amount saved after 12 months.
b. After how many months does the amount saved exceed $2000?
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
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