Question

An investment of $4000 is deposited into an account in which interest is compounded monthly. Complete the table by filling in the amounts to which the investment grows at the indicated times. (Round your answers to the nearest cent.)
r = 4%

Answer 1

$200

Answer 2

4000(1+interest rate/12 months)^12months

4000(1+0.04/12)^12 = 4162.966172
rounding = 4162.97