Suppose that you invest $6384 in an account that earns interest at an APR of 4.6%, compounded monthly. Determine the accumulated balance after 9 years.
i = .046/12 = .0038333..
n = 9(12) = 108
amount = 6384(1.0038333..)^108 = $9650.44
n = 9(12) = 108
amount = 6384(1.0038333..)^108 = $9650.44