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You deposit $2,200 in a bank account. Find the balance after 4 years if the account

pays 2.25% annual interest compounded monthly.

User DavidRH
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1 Answer

3 votes

Answer:

Explanation:

2200(1+0.0225/12) raised to the power of 12(4)

2200(1.001875) raised to the power of 12(4)

2204.125 raised to the power of 12(4)

2.98771099E160

or 2.98771099 multiplied by 10 to the 160th power

User Cnova
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