adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much w

Question

Aliun [14]

4 years ago

12

adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much w

ill be in the account after 2 years? how much of that money is interest?

Mathematics

2 answers:

kap26 [50] · Answer 1 · 2021-12-23T05:22:37+03:00

kap26 [50]4 years ago

8 0

Hello there.

<span>Adele Govern saves $150 per month and deposits the money in an account earning 3% annual interest compounded monthly. how much will be in the account after 2 years?

24</span>

olganol [36] · Answer 2 · 2021-12-23T03:12:55+03:00

olganol [36]4 years ago

4 0

Given:
saves 150 per month.
3% per annum ; 0.0025% per month.
compounded interest means that every interest earned per month also earns interest.
2 years = 24 months.

Pls. see attachment for my answer.