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Billy currently has $500 in an account that earns 12% APR, compounded monthly. Assuming he doesn't withdraw any of the funds, how much will his balance be in 6 years?

Billy currently has $500 in an account that earns 12% APR, compounded monthly. Assuming he doesn't withdraw any of the funds, how much will his balance be in 6 years?
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Billy currently has $500 in an account that earns 12% APR, compounded monthly. Assuming he doesn't withdraw any of the funds, how much will his balance be in 6 years?

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User Shilo
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8.2k points

1 Answer

4 votes

Answer:

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answered
User Adrian Russell
by
9.2k points
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