giggfay3tutt4 giggfay3tutt4

13-09-2016
Mathematics

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you put $500 in to a savings account which earns compound interest at a rate of 0.2% per month. if you dont make any deposits or withdrawls how much will you have in your account in 10 years

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nobillionaireNobley nobillionaireNobley

15-09-2016

A = 500(1 + 0.002)^(10 x 12) = 500(1.002)^120 = 500(1.2704) = $635.47

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