Question

YOU DEPOSIT $520.00 IN AN ACCOUNT WITH 4% INTEREST COMPOUNDED MONTHLY WHAT IS THE BALANCE IN THE ACCOUNT AFTER 5 YEARS

520 X 1 + 0.04/12^60 IS THIS RIGHT WAY TO DO THIS

Answer 1

520 X [1 + (0.04/12)]^60 IS THIS RIGHT WAY TO DO THIS

just clarifying