contestada

Bill has $12,400 in a regular savings account earning 43% annual interest
that is compounded monthly. How much will be in the account at the end of 3
years?
Round to the nearest cent, and do not include the dollar sign in your answer.

Respuesta :

Answer:

44041.03

Step-by-step explanation:

A = P(1 + r/n)^nt

   = 12400(1 + .43/12)^12(3)

   = 12400(1.03583333)³⁶

   = 12400(3.55169589)

   = 44041.029