How much would $500 invested at 6% interest compounded monthly be

worth after 4 years? Round your answer to the nearest cent.

ACO) - P (1)

Question

Mathematics

Zion Li

1 May, 06:14

How much would $500 invested at 6% interest compounded monthly be

worth after 4 years? Round your answer to the nearest cent.

ACO) - P (1)

+1

Answers (1)

Know the Answer?

Aaliyah Brennan · Answer 1

The answer is $4,320 because you would multiply 500 by 0.06 to get 30. Then since that monthly you would multiply that by 12. Then since it's over 4 years the final answer is $4,320.

How much would $500 invested at 6% interest compounded monthly beworth after 4 years? Round your answer to the nearest cent.ACO) - P (1)

How much would $500 invested at 6% interest compounded monthly be

worth after 4 years? Round your answer to the nearest cent.

ACO) - P (1)