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Your bank offers 6 percent annual interest, compounded monthly. If you start with $500 in your account, how much will you have after 3 months?

Your bank offers 6 percent annual interest, compounded monthly. If you start with $500 in your account, how much will you have after 3 months?
asked 32.1k views
1 vote
Your bank offers 6 percent annual interest, compounded monthly. If you start with $500 in your account, how much will you have after 3 months?

asked
User Bharath Pabba
by
7.7k points

1 Answer

6 votes

Answer:

$590

Explanation:

answered
User Donohoe
by
8.0k points
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