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You deposit $300 each month into an account earning 5% interest compounded monthly how much will you have in 20 years

You deposit $300 each month into an account earning 5% interest compounded monthly how much will you have in 20 years
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4 votes
You deposit $300 each month into an account earning 5% interest compounded monthly how much will you have in 20 years

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User Nauman Ash
by
7.5k points

1 Answer

4 votes

Answer:

The amount is $331.49 and the interest is $31.49.

P=$300 r=5% n=12 T=2years

answered
User Mugiseyebrows
by
8.7k points
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