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A monthly contribution of $200 is deposited into an interest-bearing account. If the account has a 4.8% interest rate and compounds monthly, what will be the total amount in the…

A monthly contribution of $200 is deposited into an interest-bearing account. If the account has a 4.8% interest rate and compounds monthly, what will be the total amount in the…
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A monthly contribution of $200 is deposited into an interest-bearing account. If the account has a 4.8% interest rate and compounds monthly, what will be the total amount in the account after 10 years?

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User Vitaliy Kurokhtin
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8.8k points

1 Answer

4 votes
In 10 years, you will have $31,049.30
answered
User Iliyan Bobev
by
6.9k points
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