Ryan invests $8,361 in a savings account with a fixed annual interest rate of 4.31% compounded monthly. After 10 years, what will be the balance in the account?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Jul 22, 2022 62.0k views

0 votes

Ryan invests $8,361 in a savings account with a fixed annual interest rate of 4.31% compounded monthly. After 10 years, what will be the balance in the account?

Mathematics
high-school

CJ Ramki asked

by CJ Ramki

7.5k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

4 votes

Answer:

12,750

Explanation:

After investing for 10 years at 4.31% interest, your $8,361 investment will have grown to $12,750

Bart Read answered Jul 27, 2022

by Bart Read

6.5k points

0 Comments

Please log in or register to add a comment.

Ask a Question

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

7.8m questions

10.4m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions