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OpenStudy (bieber896):
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
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OpenStudy (bieber896):
@Ghostgate
OpenStudy (tkhunny):
Have you considered calculating it? What is the balance after one (1) month?
OpenStudy (anonymous):
You are supposed to use the compound interest formula: \[A=P(1+\frac{r}{n})^{nt}\]
OpenStudy (bieber896):
so where do i plug in the numbers?
OpenStudy (anonymous):
Let me show you an example: see picture:
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