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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 5 years? Round your answer to the nearest whole …

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 5 years? Round your answer to the nearest whole …
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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 5 years? Round your answer to the nearest whole number

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User Rrawat
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1 Answer

4 votes
1300*(1 +.025/12)^(12*5) ≈ 1473 . . . . dollars
answered
User Sergei Golos
by
8.4k points
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