If $5000 is invested at an interest rate of 3.396 compounded monthly for 10 years, what would be the balance in the account
1 answer:
Answer: D
Step-by-step explanation:
Months = 12 x 10 = 120months
100%+3.396%=103.396% / 100 = 1.03396
5000 X (1.03396)^120 = 275054.36
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