How much would $500 invested at 6% interest compounded monthly be worth after 5 years? Round your answer to the nearest cent. A(t) = P (1+r/n)nt

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Zoltish asked Sep 28, 2022

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How much would $500 invested at 6% interest compounded monthly be

worth after 5 years? Round your answer to the nearest cent.

A(t) = P (1+r/n)nt

Mathematics
college

Zoltish asked Sep 28, 2022

by Zoltish

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The interest: $1080.00

If you borrowed the money, you would now owe $1580.00

If you loaned someone the money, you would now be due $1580.00.

Hopefully this helps!

Gijs Erenstein answered Oct 1, 2022

by Gijs Erenstein

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