Question

You invest $8,000 in an account that earns 4% compounded monthly. How much money are you going to have in 5 years?​

Answer 1

to solve this problem you are going to have to use the compounded formula of account interest.

start by using the formula ... A=p(1+r)^t

the principle is 8000... the rate would be converted into a decimal which is 0.04... and the time is 5 years

input the amounts in ... A=8000(1+0.04)^5

then your answer will be 9733.22$

good luck ! <3