You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in your account in 15 years?

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kaelacallowayp7e0mr kaelacallowayp7e0mr

18-04-2018
Mathematics

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You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in your account in 15 years?

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pusheenburgersp076fv pusheenburgersp076fv · Answer 1 · 2018-04-18T17:42:13+02:00

pusheenburgersp076fv pusheenburgersp076fv

18-04-2018

well 2% of 6000 is 120. Then u take 120 times 12 (the amount of months in 1 year) than u take the answer (1440) and mulitply it by 15 (the amount of years) and get 21600.

Hope this helps! :3

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