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31 July, 13:42

Find the balance in the account.

$700 principal earning 5%, compounded monthly, after 9 years

A. $1,096.79

B. $16,088.19

C. $79,380.00

D. $1,085.93

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Answers (2)
  1. 31 July, 15:00
    0
    The correct answer is A
  2. 31 July, 16:56
    0
    700 * (1+0.05/12) ^ (9*12)

    700*1.56684665 = 1096.79

    The answer is A
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