Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year)
How much money will you have in your account after 1 year?
What is the amount of interest earned in 1 year?
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Home » Mathematics » Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year) How much money will you have in your account after 1 year? What is the amount of interest earned in 1 year?