# Interest

You deposit \$4000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years?

Use n=12 for monthly compounding,n=4 for quarterly compounding,n=2 for semiannual compounding, and n=1 for annual compounding.)

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1. 4000 * [1 + (.05 / 12)]^(5 * 12)

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2. 200

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