Question

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?​

Answer 1

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.