What is the future value of saving account that earns 12% Interest each year calculated monthly after 5 years that initially has $325?

asked Apr 1, 2023 193k views

1 vote

4.4k points

Please log in or register to add a comment.

5 votes

If the account earns 12% each year, after 5 years, the value will be 325*(1.12^5) = 325*1.76 = $572.76

Vinod answered Apr 5, 2023

by Vinod

4.9k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.1m questions

6.7m answers