SOLUTION: You deposit $3000 in an account earning 6% interest compounded monthly how much will you have in the account in 15 years

SOLUTION: You deposit $3000 in an account earning 6% interest compounded monthly how much will you have in the account in 15 years

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Question 1108145: You deposit $3000 in an account earning 6% interest compounded monthly how much will you have in the account in 15 years
Answer by rumessa(13) (Show Source): You can put this solution on YOUR website!
interest amount of 1 month = $3000 * 6%
= 180
interest of 1 year = 180 * 12
= 2160
interest of 15 years = 32400
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