Find the balance in the account. $4,100 principal earning 4%, compounded monthly, after 10 years
2 answers:
The formula is A=p (1+r/k)^kt A future value? P present value 4100 R interest rate 0.04 K compounded monthly 12 T time 10 years A=4,100×(1+0.04÷12)^(12×10) A=6,112.41. ..answer
$4100*(1+0.04/12)^(12*10)
4100*1.490832682=
$6112.41
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