Question

How much would $300 invested at 4% compounded monthly be worth after 8 years?

Answer 1

use the formula
\[ Amount= P(1+r)^n \]
where r is the *monthly* interest rate (i.e. 0.04/12 )
and n is the number of months i.e. 8 years *12 months per year
and P is the original amount = 300

Answer 2

300(1.00333)^96.... you're saying this is how it is set up?
so then I got 412.917 approx. 413