Homework Help: Math

Posted by Paige on Friday, May 4, 2012 at 4:31pm.

The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?

Math - arnab, Saturday, May 5, 2012 at 5:56pm
A=P( 1+r/100)^n
A= 420 ( 1+3/100 )^2/12
A= 420 ( 1.03 ) ^ 0.17
A=$422.12
Math - Ahlam, Monday, January 28, 2013 at 6:26pm
5. The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?

A. $424.11
B. $426
C. $422.10
D. $432.60

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