HELLPP
Find the balance in the account after the given period

$3500 deposit earning 6.75% compounded monthly after 6 months

a. $3,619.80
b. $3,743.70
c. $3,748.22
d. $4,860.36

Question

HELLPP
Find the balance in the account after the given period

$3500 deposit earning 6.75% compounded monthly after 6 months 

a. $3,619.80
b. $3,743.70
c. $3,748.22
d. $4,860.36

bieber896 · Answer

@Ghostgate

tkhunny · Answer

Have you considered calculating it?

What is the balance after one (1) month?

anonymous · Answer

You are supposed to use the compound interest formula: $$A=P(1+\frac{r}{n})^{nt}$$

bieber896 · Answer

so where do i plug in the numbers?

anonymous · Answer

Let me show you an example: see picture: