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by jeremynelson on July 31st, 2010

jeremynelson

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how do you calculate the amount of money you have after 12 months if interest rate is 3% and added $355 per month?

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Answers. 1 helpful answer below.

  • by Pith-y on July 31st, 2010

    Pith-y

    You use a handy dandy free calculator like one of these:

    http://moneycentral.msn.com/personal-finance/calculators/aim_to_save_calculator/home.aspx

    http://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx

    Your monthly deposit of $355.00 for 1 years with an interest rate of 3.00% compounded Monthly with an initial starting balance of $355.00 =

    Final Savings Balance: $4,684.86

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