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Adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much will be in the account after 2 years? how much of …
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Adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much will be in the account after 2 years? how much of …
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Aug 22, 2018
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adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much will be in the account after 2 years? how much of that money is interest?
Mathematics
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Brafdlog
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Hello there.
Adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much will be in the account after 2 years?
24
Uwe Allner
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Aug 23, 2018
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Given:
saves 150 per month.
3% per annum ; 0.0025% per month.
compounded interest means that every interest earned per month also earns interest.
2 years = 24 months.
Pls. see attachment for my answer.
Kasper Munck
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Aug 29, 2018
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Kasper Munck
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