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

- Math -
**susan**, Saturday, March 21, 2015 at 12:42pm
424.11

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