mak33softball mak33softball

11-06-2021
Mathematics

contestada

Find the amount of money in an account after 9 years if $2,600 is deposited at 8% annual interest compounded monthly

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madethisfortwitch1 madethisfortwitch1

11-06-2021

Answer:

5328.78

Step-by-step explanation:

formula:

[tex]P(1+\frac{i}{n})^{n*t}\\2600(1+\frac{.08}{12})^{12*9}\\\\2600(1.006667)^{108}=5328.77861305[/tex]

this rounds to 5328.78

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