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If you deposit $2000 in an account earning 3% interest compounded monthly, how much will you have in the account in 20 years?

If you deposit $2000 in an account earning 3% interest compounded monthly, how much will you have in the account in 20 years?
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If you deposit $2000 in an account earning 3% interest compounded monthly, how much will you have in the account in 20 years?

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User Julfikar
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1 Answer

2 votes
You will have $2,407,705.26, as the anual APY is 42.57%
answered
User Carles Xuriguera
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