Question

If you deposit $1,500 at 3% monthly, how much money do you have in 6 years?

Answer 1

Answer: $1795.42

Explanation:

`A = P(1+(r)/(n) )^(nt)`

A = 1500

r = 3%

n = 12

t = 6

`A = 1500(1+(0.03)/(12) )^(12*6)`

A = $1795.42