You deposit $8,500 into an account that pays 3.2% annual interest. Find the balance after 8 years when the interest is compounded monthly.

Question

You deposit $8,500 into an account that pays 3.2% annual interest. Find the balance after 8 years when the interest is compounded monthly.

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Ladonna 2 weeks 2021-07-22T19:20:53+00:00 1 Answers 1 views 0

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    2021-07-22T19:22:29+00:00

    Answer:

    10676

    Explanation:

    3.2% per annum = 3.2% × 8500

    = 272

    272×8yrs = 2176

    2176+8500= 10676

    check ur ans if mines correct

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