Solved

Use the Formula A A=P(1+rn)nt to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { to solve. }

Question 30

Multiple Choice

Use the formula A A=P(1+rn) nt to solve. A = P \left( 1 + \frac { r } { n } \right) ^ { n t } \text { to solve. }
-Find the amount of money in an account after 3 years if $2300 is deposited at 8% annual interest compounded monthly.


A) $2910.23
B) $2897.34
C) $2916.96
D) $2921.55

Correct Answer:

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