Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Our platform provides a seamless experience for finding precise answers from a network of experienced professionals. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

You deposit $3000 in an account earning 5% interest compounded monthly. How much will you have in the account in 15 years?

Sagot :

Answer:

9000

Step-by-step explanation:

duhitzdavie

Answer:

6236.78454 or 6236.78

Step-by-step explanation:

Use formula A=P(1+r)^t

A=3000(1+0.05)^180/12

*convert 15 years to moths* 180 months

A=3000(1.05)^180/12

A=3000(2.07892818 )

A=6236.78454 or 6236.78

Hope this helps ^-^

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.