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Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year) How much money will you have in your account after 1 year? What …

Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year) How much money will you have in your account after 1 year? What …
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Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year)

How much money will you have in your account after 1 year?

What is the amount of interest earned in 1 year?

User Adrenaxus
by
8.4k points

1 Answer

2 votes
The answer would be $804.88
User Roberto Conde
by
8.2k points
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