How much was $500 invested at 6% interest compounded monthly be worth after four years

asked Mar 10, 2019 13.5k views

1 vote

by Lesce

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6 votes

632.5 I think is how much

OozeMeister answered Mar 11, 2019

5.8k points

4 votes

Total = 500 * (1 + .06/12) ^ 12 * 4
Total = 500 * (1.005) ^ 48

Total = 500 * 1.2704891611
Total =635.24

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