If $350 is invested at 6% compounded (A) annually, (B) quarterly, (C) monthly, what is the amount after 7 years? How much interest is earned?

asked Aug 24, 2023 28.1k views

1 vote

If $350 is invested at 6% compounded

(A) annually, (B) quarterly, (C) monthly,
what is the amount after 7 years? How much interest is earned?

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4 votes

Answer:

Hope this helps

Explanation:

350*.06=21

annually 21*7=147

quarterly 21(4*7)=588

monthly 21(12*7)=1764

Reynaldi answered Aug 31, 2023

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