11-11-2021
Mathematics

contestada

Camilla invests $5,000 into an account with a 1.8% interest rate that is compounded monthly. How much money will be in this account after 4 years?
Round your answer to the nearest cent.

Respuesta :

agkelly99 agkelly99

18-11-2021

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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