dejesusazeneth221
Answered

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Lucas deposits $4,000.00 for 6 years at 2% interest, compounded monthly. How much interest does he earn at the end of the 6 years? Round to the nearest cent. SHOW THE WORK PLEASE​

Sagot :

cutydragy

Answer:

$12644.56

Step-by-step explanation:

one year = 12 month

4,000 * (1.02)^(6*12) = 16644.5615

16644.5615-4000 = 12644.5615

irspow

Answer:

Step-by-step explanation:

[tex]A=P(1+r/c)^{ct}\\ \\ A=4000(1+.02/12)^{12(6)}\\ \\ A\approx \$ 4509.54[/tex]

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