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 2 years ago
bob invests $3700 in an account paying 3% compounded monthly . how much is in the account after 8 months?
 2 years ago
bob invests $3700 in an account paying 3% compounded monthly . how much is in the account after 8 months?

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mr.luna
 2 years ago
Best ResponseYou've already chosen the best response.1use your eqauation you have all the inputs. principal, rate, and time. i dont remeeber it but if you post it i can give it a shot

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.0Do you know Compound interest formula?

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0is it A= p(1+r/n) ^n*t

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0i treid it but i didnt get the right answer

mr.luna
 2 years ago
Best ResponseYou've already chosen the best response.1alrite so , a=3700(1+(.03/n))^n8

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0the answer is 3774.65

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.0Great job at knowing your formula correctly :)

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0but i dont kno how to do it

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.0Compounded monthly > n = 12

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0what do i put for t?

moustafa55
 2 years ago
Best ResponseYou've already chosen the best response.0i still did not get the answer

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.0Show us how do you calculate it?

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.0n = 12, n * t = 12 * 8/12 = 8
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