Answered

How much would $500 invested at 6% interest compounded monthly be
worth after 4 years? Round your answer to the nearest cent.
ACO) - P(1)

Answer :

The answer is $4,320 because you would multiply 500 by 0.06 to get 30. Then since that monthly you would multiply that by 12. Then since it’s over 4 years the final answer is $4,320.

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