2 pts Find the total future amount for $500 invested at 2.74% for 4 years compounded monthly.

Salman Lone asked Jul 22, 2022

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25 votes

2 pts

Find the total future amount for $500 invested at 2.74% for 4 years compounded
monthly.

Salman Lone asked Jul 22, 2022

2.9k points

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24 votes

Using the compound interest formula:

500 x (1.0274 to the power of 4 )
=£557.10

Calculator answer below:

Didatus answered Jul 26, 2022

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