Question

Show work help pleaseee

Nancy has $4,111 in an account that pays 1.07% interest compounded monthly.What is her ending balance after two years?

Answer 1

8,309.98‬

Explanation:

So, you would start by multiplying 4,111 times 1.07% that equals 43.9877

We would round up to 43.99.

Add 43.99 to 4,111 that equals to 4,154.99‬

4,154.99‬ times 2 your answer is 8,309.98‬

Therefore your answer is $8,309.98‬