Given:
Kellee deposits $5000 in savings account with an interest rate of 0.9% compounded monthly.
So, P = 5000
interest rate = 0.9% = 0.009
compounded monthly, n = 12
We will find the money in the account after 3 years, t = 3
We will use the following formula:
substitute with the given values:
Rounding to the nearest cent
so, the answer will be: $5136.79