breylanbeauregard breylanbeauregard
  • 05-05-2024
  • Mathematics
Answered

You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in the account in 15 years?



Answer :

mohammadasabri
mohammadasabri mohammadasabri
  • 05-05-2024

the amount in the account will grow to approximately $12,682.22.

To calculate the future value of an investment with monthly compounding interest, you can use the formula:

View image mohammadasabri
Answer Link

Other Questions

Enzyme molecules react with reactants to produce substrates. True False
in addition to resemble one another, what other criteria are required for organisms to be group in the same species? A. They migrate only wiht one another. B. T
to decrease an amount by 23% , multiply by ????
What does an ecopsychologist study
Seven out of ten students who play sports prefer pizza to Chinese food. If there is a total of 120 players, how many prefer pizza to Chinese food? What percent
Jake drew an isosceles right triangle. What are the measures of the two acute angles? How do you know?
Define the term heat dome
which of the following best describes and electric motor
what are the streams and small rivers that feed into main rivers called?
if gravity did not affect the path of a horizontally thrown ball the ball would ____