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Eva invests $7900 in a new savings account which earns 5.0% annual interest, compounded monthly. What will be the value of her investment after 6 years? Round to the nearest cen…

Eva invests $7900 in a new savings account which earns 5.0% annual interest, compounded monthly. What will be the value of her investment after 6 years? Round to the nearest cen…
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Eva invests $7900 in a new savings account which earns 5.0% annual interest, compounded monthly. What will be the value of her investment after 6 years? Round to the nearest cent.

User Cory Klein
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4 votes

Answer:

$7,900(1 + .05/12)⁷² = $10,657.24

User Technophyle
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