You invest $1,300 in an account with an annual interest rate of 2.5%, compounded monthly. How much money is in the account after 15 years? Round your answer to the nearest whole number.

Question

Giovanni Morris

19 September, 15:03

+5

Answers (2)

Know the Answer?

Pecan · Answer 1

Total = 1,300 * (1+.025/n) ^ (15*12)

Total = 1,300 * (1.0020833333) ^180

Total = 1,300 * 1.4544239487

Total = 1,890.75

Smoochie · Answer 2

A=1,300 * (1+0.025:12) ^ (12*15)

A=1,890.75