16-10-2020
Mathematics

contestada

You invest $3,287 in a savings account with a fixed annual interest rate of 9% compounded monthly. What is the account balance after 4 years?

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marissy8888 marissy8888

16-10-2020

Answer: I’m pretty sure that it’s 14199.84

Step-by-step explanation:

.09 times 48 is 4.32

4.32 times 3287 is 14199.84

You get the 48 from 12 months per year for 4 years

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