Algebra 106
posted by Sonya .
$625.00 investested in retirement fund for 10 years @ 3.84% compounded

625(1+.0384)^10 = 911.02
if compounded annually 
Steve, if compounded monthly for 10 yeays how do i calculate it

Just alter the formula  divide the interest rate so it applies monthly, then multiply the number of compounding periods. Surprised you didn't know that, presumably having studied the material . . .
625(1+.0384/12)^(12*10)
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