Use the compound amount formula $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ to find the accumulated amount on an investment of $\$ 250$ invested at an interest rate of $6 \%$ for 5 years, if the interest is compounded monthly.
A)$334.56
B)$1,325.00
C)$8,246.92
D)$337.21

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The Answer of Use the compound amount formula $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ to find the accumulated amount on an investment of $\$ 250$ invested at an interest rate of $6 \%$ for 5 years, if the interest is compounded monthly.
A)$334.56
B)$1,325.00
C)$8,246.92
D)$337.21

Use the Compound Amount Formula A=P(1+rn)ntA = P \left( 1 + \frac { r } { n } \right) ^ { n t }A=P(1+nr​)nt

Use the Compound Amount Formula $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$