Answer:
$5308.79
Step-by-step explanation:
The future value can be computed from ...
FV = P(1 +r/n)^(nt)
where P is the principal invested, r is the annual interest rate, n is the number of times per year it is compounded, and t is the number of years.
Filling in the given numbers, we have ...
FV = $5000(1 +.03/12)^(12·2) ≈ $5308.79
Myron's withdrawal will be in the amount of $5308.79.
