A deposit of $1000 is made in an account that earns 4% interest compounded monthly.The balance in the account after n months is given by Find the balance in the account after 12 years by finding the 144th term of the sequence.Round to the nearest penny.
A) $283,661.80
B) $1614.78
C) $1609.42
D) $144,480.00
E) $1620.17

Question

A deposit of $1000 is made in an account that earns 4% interest compounded monthly.The balance in the account after n months is given by  Find the balance in the account after 12 years by finding the 144th term of the sequence.Round to the nearest penny.
A) $283,661.80 
B) $1614.78 
C) $1609.42 
D) $144,480.00 
E) $1620.17

Quizplus · Accepted Answer

The Answer of A deposit of $1000 is made in an account that earns 4% interest compounded monthly.The balance in the account after n months is given by  Find the balance in the account after 12 years by finding the 144th term of the sequence.Round to the nearest penny.
A) $283,661.80 
B) $1614.78 
C) $1609.42 
D) $144,480.00 
E) $1620.17

A Deposit of $1000 Is Made in an Account That