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$6500 for 5 years at 5.5% compounded monthly

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$6500 for 5 years at 5.5% compounded monthly

asked Jul 27, 2023 213k views

22 votes

$6500 for 5 years at 5.5% compounded monthly

Mathematics
college

by Vrybas

7.9k points

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1 Answer

11 votes

Answer:

$8,552.07

Explanation:

The final balance is $8,552.07

The total compound interest is $2,052.07

Andrew Eidsness answered Jul 31, 2023

by Andrew Eidsness

7.3k points

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