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OpenStudy (anonymous):
Please help! Bobbi saved $1,000 in the bank. She decided to leave it there for 5 years. Find the amount of money Bobbi will have in her account after 5 years if she chooses 6.85% interest compounded monthly.
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OpenStudy (anonymous):
4,110
OpenStudy (anonymous):
Can you please show me how you got that answer?
OpenStudy (anonymous):
Plus her initial amount equal 5110
OpenStudy (anonymous):
So the final answer would be 5110 but can you show me? Please :)
OpenStudy (anonymous):
6.85% of 1000= 68.5 montly in one year 68.5x12=822 in 5 years 822x5=4110 now 4110+initial account 1000=5110
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