Question

You invest $300 in an account that has an interest rate of 1.3%, compounded monthly. How much money is in the account after 10 years? Round your answer to the nearest whole number.
Answer

$342

$345

$356

$360

Answer 1

@ghazi

Answer 2

i have forgotten the formula :(

Answer 3

@ryan123345

Answer 4

@jim_thompson5910

Answer 5

A = P(1 + r/n)^(n*t) is the formula you will use

Answer 6

@ghazi In case you forgot @jim_thompson5910 brought it up thanks I shall try it

Answer 7

yes give a try

Answer 8

I got 356? O.o

Answer 9

that's incorrect

Answer 10

either that or 345

Answer 11

A = P(1 + r/n)^(n*t)

A = 300(1 + 0.013/12)^(12*10)

A = ???

Answer 12

341.624

Answer 13

so 342 is the answer.

Answer 14

yep