Question

Mimi has 28,000 euro to invest and can place it in an account that pays 7 1/2 % p.a. compounded monthly. After a 4 year period how much will it be?

Answer 1

37,760.78 euros \[2800( 1+(.075 /12))^{12*4}\]

Answer 2

Missed a zero, as long as you use 28000 you'll get the answer.