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Naya [18.7K]
3 years ago
10

James and Terry open a savings account that has a 2.75% annual interest rate, compounded monthly. They deposited $500 into the a

ccount each month. How much will be in the account after 20 years​
Mathematics
1 answer:
zhuklara [117]3 years ago
5 0

Answer:

$275

Step-by-step explanation:

This is what I got:

You first <u>convert</u> 2.75% into 0.0275

You then <u>multiply</u> 500 x 0.0275 = 13.75

Finally you <u>multiply</u> 13.75 x 20 = 275

so the answer should be 275

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