you invest $1,300 in an account with an annual interest rate of 2.5%, compounded monthly. How much money is in the account after 10 years? Round your answer to the nearest whole number.
Hi there The formula of compound interest is A=p (1+r/k)^kn A future value? P present value 1300 R interest rate 0.025 K compounded monthly 12 N time 10 years So A=1,300×(1+0.025÷12)^(12×10) A=1,668.80
