Math
posted by Maria .
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
Respond to this Question
Similar Questions

Compound math
(Future Value) Suppose you invest $8000 into an account that pays an annual interest rate of 6.2%. How much is in the account after 30 years if a. simple interest is compound monthly? 
math
A deposit of $2,000 earns interest at a rate of 14% compounded quarterly. After two and a half years the interest rate changes to 13.5% compounded monthly. How much is in the account after six years? 
math
Suppose that you invest $1583 in an account that earns interest at an APR of 6.7%, compounded continuously. Determine the accumulated balance after 6 years. 
math
Suppose that you have $12,500 to invest over a 4 year period. There are two accounts to choose from: 4.5% compounded monthly or 4.3% compounded continuously. a. Write the formula for the first accountâ€™s compound interest for n compounding … 
Algebra
Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple interest … 
math
Compound Interest Question James has 10,000 to invest. If he invest money in a savings account that pays 4% APR, calculate the following: a) how long will it take to have a total of 15,000 if interest is compounded quarterly (3months)? 
Math
James has 10,000 to invest. If he invest money in a savings account that pays 4% APR, calculate the following: a) how long will it take to have a total of 15,000 if interest is compounded quarterly (3months)? 
math
Investor A deposits 1,000 into an account that earns an interest rate of 6% per annum compounded semiannually. On the same date, Investor B deposits 800 into an account that earns an interest rate of 8% per annum compounded monthly. … 
Math
Determine the balance if you were to invest 10,000 at an APR of 9% compounded monthly for seven years. 
Business mathematics
Rm 200 was saved every month for four years in an account that pays 6% compounded monthly.find the accumulated value if the interest rate was changed to 8% compounded monthly after one year.