You deposit $520 in an account with 4% interest compounded monthly. What is the balance in the account after 5 years?
2 answers
The balance in the account after 5 years is $717.60.
Definitely wrong by the bot
amount = 520(1 + .04/12)^60 = $634.92
amount = 520(1 + .04/12)^60 = $634.92
1 answer