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You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 10 years?

You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 10 years?
asked 43.7k views
24 votes
you deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 10 years?

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User Smartrahat
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7.6k points

1 Answer

10 votes
if it’s 3% that’s 36% a year which means 360% in ten years. $2000+360%=$9200
answered
User Joshua Duxbury
by
8.1k points
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