Post a New Question

Math

posted by on .

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 - ,

    A=P( 1+r/100)^n
    A= 420 ( 1+3/100 )^2/12
    A= 420 ( 1.03 ) ^ 0.17
    A=$422.12

  • Math - ,

    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

  • Math - ,

    424.11

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question