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It's January 1st, and Jillian is starting a new savings plan. Her savings account charges a $10 monthly fee for any month where she does not have an ending balance of $1,000 or higher. At the beginning of each month, she deposits $100 into her account. At the end of the year, her bank awards her an interest at the rate of 1%, rounded to the nearest dollar, calculated on the ending balance.

After three years, what is her ending balance after interest?

 Mar 17, 2019
 #1
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See the answer here:  https://web2.0calc.com/questions/help-with-interests

 Mar 17, 2019
 #2
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The answer was wrong

IneedHALP  Mar 17, 2019
 #3
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Jan. 1         $100             =$100
Feb.1         -$10 + $100 =$190
Mar.1         -$10 + $100 =$280
Apr.1         -$10 + $100 =$370
May 1        -$10 + $100 =$460
Jun.1         -$10 + $100 =$550
Jul. 1         -$10 + $100 =$640
Aug.1        -$10 + $100 =$730
Sep.1        -$10 + $100 =$820
Oct. 1       -$10 + $100 =$910
Nov.1        -$10 + $100=$1000
Dec. 1        $0   + $100 =$1,100
Dec.31        $1,100 x 1.01 =$1,111 - End of year one.
Dec.31       $1,111 + $1,200 =$2,311 x 1.01 =$2,334.11 - End of year two.
Dec.31       $2,334.11 + $1,200 =$3,534.11 x 1.01 =$3,569.45 = $3,569 - Balance at end of year three.

 Mar 17, 2019

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