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Oscar Montez’s savings account has a principal of $7,201. It earns 6% interest compounded month. What is the amount in the account at the end of the second month?
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Oscar Montez’s savings account has a principal of $7,201. It earns 6% interest compounded month. What is the amount in the account at the end of the second month?

User Silvestr
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User Angelo Chrysoulakis
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11 votes

Answer:

I= P+ I= 7201x6x2/100 = 84,252/100 = $842.52

User Valsidalv
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