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3 years ago

Suppose that you invest $250 every month in an account that has 3.6% APR. The account is compounded every month.

Mathematics

1 answer:

zvonat [6]3 years ago

8 0

Answer: $268.63

Step-by-step explanation:

A = P(1 + R/100n)^nt

P (principal) = 250

R = 3.6 (%)

n = 12 (months in a year)

t = 2 (years)

A = 250 x (1.003)^24

= $268.63

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