migue324 migue324

24-02-2022
Mathematics

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Isabel deposits $6,000 into an account that earns 1. 5% interest compounded monthly. Assuming no more deposits and no withdrawals are made, how much money is in the account after 4 years?.

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pannac0tta pannac0tta

24-02-2022

Answer:

$4,320

Step-by-step explanation:

Ok, so with the information given she earns $90 every month. As there are 12 months in a year, in total she would earn $90 x 48 months. So, she would earn $4,320 if she made no deposits or withdrawals.

Hope this helps!

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