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Rick invest $5,830 into a retirement saving account. The account compounds at 3.2% monthly for. How much money will Rick have in 4 years? Show work. Use comma and dollar signs in the final answer.
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Rick invest $5,830 into a retirement saving account. The account compounds at 3.2% monthly for. How much money will Rick have in 4 years? Show work. Use comma and dollar signs in the final answer.

User Hkanjih
by
8.3k points

1 Answer

6 votes

Answer:

$746.24

Explanation:

3.2/100 = 0.032

5,830 X 4 = 23,320

23,320 X 0.032 = 746.24

User Mark Spangler
by
7.7k points
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