Question

A man invests $6,900 at 6.25% interest, compounded monthly. How much is his account worth after 7 years? Please Help!!

Answer 1

@IsaiahF Use this formula: \[A=P(1+\frac{ r }{ m })^{mt}\]
A = Accumulated amount
P = Principal amount
r = rate of interest
m = number of compounded per year
t = number of years

Tell me what you got then we'll see. :)

Answer 2

2.2