Question

If you deposit $1,500 at 3% monthly, how much money do you have in 6 years?

Answer 1

Answer: $1795.42

Step-by-step explanation:

$A = P(1+\frac{r}{n} )^{nt}$

A = 1500

r = 3%

n = 12

t = 6

$A = 1500(1+\frac{0.03}{12} )^{12*6}$

A = $1795.42