SOLUTION: if you deposit $2,000 in an account earning 3% interest compound monthly, how much will you have in the account in 5 years?

SOLUTION: if you deposit $2,000 in an account earning 3% interest compound monthly, how much will you have in the account in 5 years?

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Question 326632: if you deposit $2,000 in an account earning 3% interest compound monthly, how much will you have in the account in 5 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=2000(1+.03/12)^12*5
A=2000(1.1616168)
A=2323.23
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