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You deposit $4000 in an account earning 4% interest compounded monthly. How much will you have in the account in 5 years?

You deposit $4000 in an account earning 4% interest compounded monthly. How much will you have in the account in 5 years?
asked 67.3k views
3 votes
You deposit $4000 in an account earning 4% interest compounded monthly. How much will you

have in the account in 5 years?

asked
User Radu Cojocari
by
8.5k points

2 Answers

6 votes
$4,883.99

Year Amount
0 4000
1 4162.97
2 4332.57
3 4509.09
4 4692.79
5 4883.99
answered
User Viorel
by
8.6k points
1 vote

Answer:

9600

Explanation:

quick math

answered
User Mikesname
by
8.2k points
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