Answer:
the compounded monthly formula is
total = principal * ( 1 + (rate / 12)) ^ 12*2 years
total = $800.00 * (1 + .06 / 12) ^ 24
total = $800.00 * (1.005) ^ 24
total = $800.00 * 1.1271597762
total = $901.7278209643
total = 901.73 (rounded)
Step-by-step explanation:
