![](http://pdfasset.owneriq.net/d/f5/df552c66-4575-4408-aa4e-07dc73f78b54/df552c66-4575-4408-aa4e-07dc73f78b54-bg34a.png)
20060301
15-3-2
Compound Interest
k
Example 3
What will be the value of an ordinary annuity at the end of 10 years if $100 is deposited each
month into an account that earns 7% compounded monthly?
k
Example 2
If you deposit $100 into an account that earns 7% compounded monthly, how much will be in
the account after three years?