Register

Bobby deposits $15,000 in a savings account. How much will be in the account after 10 years if he earns 4% interest, compounded monthly?

Bobby deposits $15,000 in a savings account. How much will be in the account after 10 years if he earns 4% interest, compounded monthly?
asked 59.4k views
1 vote
Bobby deposits $15,000 in a savings account. How much will be in the account after 10 years if he earns 4% interest, compounded monthly?

asked
User Silmathoron
by
8.5k points

1 Answer

4 votes

Answer:

$22,204

Explanation:

You will have earned $7,204 in interest.

answered
User Marc Lincoln
by
7.6k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!