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
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