Question

You deposited 800 dollars in an account that pays 6% interest compounded monthly. How much will your account be worth after 10 years?

A. 276130.00
B. 849.46
C. 1456
D. 1455.52

Answer 1

The answer is D. $14,55.52. I got this answer by using the compound interest formula which would be Y=800(1+.06/12)^12•10. Hope this helps!! :)