Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded monthly. Find the acc

Discussion in 'Calculator Requests' started by math_celebrity, Sep 17, 2020.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded monthly. Find the account balance after 12 years. Round your answer to two decimal places.

    Using our compound interest balance calculator, we get:
    $1,074.42
     
    math_celebrity, Sep 17, 2020
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