Ask Question
17 June, 22:05

Travis deposited $100 into a savings account that earns 6% compounded monthly. He plans on keeping the money in the account for 6 months and depositing an additional $100 each month. at the end of 6 months, how much interest will Travis have earned?

+3
Answers (1)
  1. 18 June, 01:34
    0
    Travis will have earned $139.38 in interest.

    There is a formula for calculating this problem, but you can solve it without; take 6% and add it back to the total along with the $100 deposited each month.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Travis deposited $100 into a savings account that earns 6% compounded monthly. He plans on keeping the money in the account for 6 months ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers