Register
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
28.4k views
5 votes
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
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Mr. Jacob is 55 years old and tony is 7 years old. in how many years will mr. Jacobs be 4 times as old as Tony
9/10 divided by (1/10 plus 2/5)
Link Copied!