A $1,000 deposit is made at a bank that pays 12% compounded monthly. How much will you have in your

Discussion in 'Calculator Requests' started by math_celebrity, Feb 8, 2021.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    A $1,000 deposit is made at a bank that pays 12% compounded monthly. How much will you have in your account at the end of 10 years?

    Using our compound interest calculator with time = 10 years * 12 months per year = 120, we get:
    33,003.87
     
    math_celebrity, Feb 8, 2021
    #1

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