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24 December, 13:16

How much would $500 invested at 6% interest compounded monthly be

worth after 4 years? Round your answer to the nearest cent.

ACO) - P (1)

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Answers (1)
  1. 24 December, 16:59
    0
    The answer is $4,320 because you would multiply 500 by 0.06 to get 30. Then since that monthly you would multiply that by 12. Then since it's over 4 years the final answer is $4,320.
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