Homework Help: Math

Posted by Angie on Wednesday, April 15, 2009 at 4:06pm.

You deposit $200 into an account earning 5%, compounded monthly. How much will be in the account after 2 years?

Math - Reiny, Wednesday, April 15, 2009 at 5:53pm
following the same procedure I showed you earlier, you would have

amount = 200(1.05)^2
= ....

Related Questions

algebra - 1. Suppose Mary deposits $200 at the end of each month for 30 years ...
maths - You deposit $1000 each year into an account earning 8% compounded ...
maths - You deposit $10,000 in an account earning 4% interest compounded monthly...
math - If you have a savings of $2235 and deposit the amount into an account ...
Math - 1. you deposit $200 into a savings account with interest compounded. ...
College level math - Suppose you deposit $100 in an account that earns 0.5% each...
math - you deposit $10000 in an account earning 4% interest compounded monthly. ...
Math - Suppose an individual makes an initial investment of $2400 in an account ...
Compound math - (Future Value) Suppose you invest $8000 into an account that ...
math - Suppose an individual makes an initial investment of $1100 in an account ...

For Further Reading

First Name:
School Subject:
Answer: