Question

You put $5000 in a savings account which earns compound interest at a rate
of 0.5% per month. If you don't make any deposits or withdrawls, how much
will you have in your account in 30 years (360 months)? Round your answer
to the nearest whole cent.

Answer 1

Answer: $90,000

Step-by-step explanation:

5,000*0.05= 250

250*360=90,000