Isabel deposits $6,000 into an account that earns 1.5% interest compounded monthly. Assuming no more deposits and no withdrawals are made, how much money is in the account after 4 years?

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asked Dec 11, 2018 18.9k views

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Isabel deposits $6,000 into an account that earns 1.5% interest compounded monthly. Assuming no more deposits and no withdrawals are made, how much money is in the account after 4 years?

Mathematics
high-school

Jonathan Brown asked

by Jonathan Brown

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A=6,000×(1+0.015÷12)^(12×4)
A=6,370.78

Vinay W answered Dec 17, 2018

by Vinay W

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