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Find the balance in the account after the given period. $4,200 deposit earning 4.2% compounded​ monthly, after 2 years. Use the direction in the pic plz.
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Find the balance in the account after the given period.

$4,200 deposit earning 4.2% compounded​ monthly, after 2 years. Use the direction in the pic plz.

Find the balance in the account after the given period. $4,200 deposit earning 4.2% compounded-example-1
User StacyM
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Substituting our values into the formula we get

A=4200(1+ (0.042)/(12))^1^2^*^2 \\ = 4200(1+0.0035)^2^4 \\ = 4200(1.0035)^2^4 \\ = 4567.37
User Kakoli
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