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Sharon invests $2000 in a savings account with a fixed annual interest rate of 7% compounded monthly. What is the amount in her saving account after 5 years? Help :(
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Sharon invests $2000 in a savings

account with a fixed annual interest rate of
7% compounded monthly. What is the amount in her saving account after 5 years?

Help :(

User MichaelCleverly
by
4.9k points

1 Answer

4 votes

Answer: 0.07

Explanation:

Use the given functions to set up and simplify 5years. 7% = 0.075 years = 0.07

User Maksym Kalin
by
5.4k points
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