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Katen [24]
2 years ago
10

Suppose you have $600 to invest in a savings plan,Find the balance after one year if you deposit all the money into an account t

hat pays 5% APR with monthly compounding.
Mathematics
1 answer:
pogonyaev2 years ago
7 0

Answer:

P(1+\frac{r}{100})ⁿ

600(1+\frac{5}{100})¹

600(1+0.05)¹

600(1.05)

630

Note:

P= participle

R= rate

N= years

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