Ask Question
30 April, 13:20

Suppose that you invest $250 every month in an account that has 3.6% APR. The account is compounded every month.

How much money will you have after 2 years?

+2
Answers (1)
  1. 30 April, 16:24
    0
    Answer: $268.63

    Step-by-step explanation:

    A = P (1 + R/100n) ^nt

    P (principal) = 250

    R = 3.6 (%)

    n = 12 (months in a year)

    t = 2 (years)

    A = 250 x (1.003) ^24

    = $268.63
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose that you invest $250 every month in an account that has 3.6% APR. The account is compounded every month. How much money will you ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers