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The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?

The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?
asked 78.8k views
4 votes
The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?

asked
User Mohmmad S
by
8.6k points

1 Answer

2 votes
=420(1+0.03/12)^2 use the calculator to find the answer
answered
User Jiri Vlasimsky
by
7.6k points
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