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allochka39001 [22]
3 years ago
12

Camilla invests $5,000 into an account with a 1.8% interest rate that is compounded monthly. How much money will be in this acco

unt after 4 years?
Round your answer to the nearest cent.
Mathematics
1 answer:
tresset_1 [31]3 years ago
5 0

Answer:

There would be $5,372.99 in Camilla's account after 4 years.

Step-by-step explanation:

Total Principal $5,000.00

Total Interest $372.99

* interest rate of 1.8% compound monthly is equivalent to annual rate of 1.815%

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Work Shown:

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