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bearhunter [10]
3 years ago
14

Suppose that you invest $6000 into a high yield savings account that earns 2% annual interest and is compounded monthly. If you

do not deposit or withdraw any money from the account, how much money will be in the account after 20 years? Show all work please
Mathematics
1 answer:
Dmitry_Shevchenko [17]3 years ago
7 0

Answer:


Step-by-step explanation:

FV   =   P (1  +  r / n)Yn

n=12

Y=20

P =6000


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Hello!

<em><u>Answer:</u></em>

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<em><u>*The answer must have a positive sign.*</u></em>

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First, you multiply by 10 from both sides of an equation.

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You can also divide by 22 from both sides of an equation.

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Thanks!

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Have a great day!

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