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If you deposit $1000 into an account paying 2% annual interest compounded monthly, how much money will you have in 6 years?

If you deposit $1000 into an account paying 2% annual interest compounded monthly, how much money will you have in 6 years?
asked 221k views
25 votes
If you deposit $1000 into an account paying 2% annual interest compounded monthly, how much money will

you have in 6 years?

asked
User Eddex
by
7.6k points

1 Answer

8 votes
120$ in six years because 20$ every year




answered
User Fuzz
by
8.3k points
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