Question

Find the amount of money in an account after 9 years if $2,600 is deposited at 8% annual interest compounded monthly

Answer 1

5328.78

Explanation:

formula:

`P(1+(i)/(n))^(n*t)\\2600(1+(.08)/(12))^(12*9)\\\\2600(1.006667)^(108)=5328.77861305`

this rounds to 5328.78