How much would $300 invested at 4% interest compounded monthly be worth after 8 years? Round your answer to the nearest cent.

1,322. If you want to find out the 4% of 300 dollars (300*.04) you would get 12. Now, it's 12 per month which means that there is 12 months in one year. You want to find out the yearly average which is equal to 144. (12*12) You can now use the number you got (144) and multiply it by 8 because it is the number of years you want to know by. (144*8) That should give you 1,322.