Posted by **Blake** on Saturday, December 13, 2008 at 2:32pm.

Linda invests $15,000 in a retirement account that pays 9%interest compounded monthly.

How much will she have in this account after 5 years?

- math -
**Reiny**, Saturday, December 13, 2008 at 3:09pm
amount = 15000(1+.09/12)^60

= 23 485.22

(I am sitting in a coffee shop with my laptop, taking advantage of their wireless , I typed the above calculation into Google, so please check on your calculator)

## Answer this Question

## Related Questions

- Finance - 1. A man establishes an annuity for retirement by depositing $50,000 ...
- Compound math - (Future Value) Suppose you invest $8000 into an account that ...
- Finite Math and Applied Calculus - Betty Sue sets up a retirement account. For ...
- math - Tim deposits $10 every month into a retirement account which averages 18...
- math - Tim deposits $10 every month into a retirement account which averages 18...
- Math - Tim deposits $10 every month into retirement account which averages 18% ...
- Math - Tim deposits $10 every month into a retirement account which averages 18...
- Math - Luis has $150,000 in his retirement account at his present company. ...
- Algebra - Show how you substitute the values into the formula, then use your ...
- differential equation - If P(t) is the amount of dollars in a savings bank ...

More Related Questions