Mr. McGill puts $500 into an account that pays a 2.4% annual interest rate compounded monthly. If the money is left in the account, how much money will there be in 10 years?

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Brian Bruijn · Answer 1 · 2022-07-24T05:54:56+0000

Answer:

6200

Explanation:

im not sure if its right but i can tell you what i did.. so 500 x 1.24 will give you increase in 1 year, so 12.4 should be increase in 10 years.

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Mr. McGill puts $500 into an account that pays a 2.4% annual interest rate compounded monthly. If the money is left in the account, how much money will there be in 10 years?

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Mr. McGill puts $500 into an account that pays a 2.4% annual interest rate compounded monthly. If the money is left in the account, how much money will there be in 10 years?​

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Mr. McGill puts $500 into an account that pays a 2.4% annual interest rate compounded monthly. If the money is left in the account, how much money will there be in 10 years?