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Bob invests $500 into an account with 4.5% interest compounded monthly. How much money will be in the account in 9 months? A. $522.97 B. $517.13 C. $743.05 D. $674.56 For my bro…

Bob invests $500 into an account with 4.5% interest compounded monthly. How much money will be in the account in 9 months? A. $522.97 B. $517.13 C. $743.05 D. $674.56 For my bro…
asked 222k views
17 votes
Bob invests $500 into an account with 4.5%

interest compounded monthly. How much money
will be in the account in 9 months?
A. $522.97
B. $517.13
C. $743.05
D. $674.56
For my brother

asked
User Theo Itzaris
by
8.0k points

1 Answer

2 votes
100 + 4.5 = 104.5

/100 = 1.045

500 x 1.045^9

= $ 743.05

So C
answered
User Spinner
by
7.9k points
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