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How much would $500 invested at 5% interest compounded monthly be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.

How much would $500 invested at 5% interest compounded monthly be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.
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How much would $500 invested at 5% interest compounded monthly be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.

User Bineteri
by
8.6k points

1 Answer

3 votes

Answer:

500*(1+0.05/12)^(4*12) = 610.45

User TonyOssa
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