Ask Question
4 January, 14:08

How much would $500 invested at 6% interest compounded monthly be

worth after 4 years? Round your answer to the nearest cent.

ACO) - P (1)

+1
Answers (1)
  1. 4 January, 14:11
    0
    The answer is $4,320 because you would multiply 500 by 0.06 to get 30. Then since that monthly you would multiply that by 12. Then since it's over 4 years the final answer is $4,320.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much would $500 invested at 6% interest compounded monthly be worth after 4 years? Round your answer to the nearest cent. ACO) - P (1) ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers