Solved

Use the Formula A A=P(1+rn)nt to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { to solve. }

Question 298

Multiple Choice

Use the formula A A=P(1+rn) nt to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { to solve. }
-Find the amount of money in an account after 3 years if $2300 is deposited at 8% annual interest compounded monthly.


A) $2910.23
B) $2897.34
C) $2916.96
D) $2921.55

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents