SOLUTION: Find the ending balance in an account that opens with $4,770, earns 6.5% interest compounded monthly, and is held for 15 years. (Round your answer to the nearest cent.)

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Question 649603: Find the ending balance in an account that opens with $4,770, earns 6.5% interest compounded monthly, and is held for 15 years. (Round your answer to the nearest cent.)
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

In General 

A = Accumulated Amount

P= principal = 4770 

r= annual rate = .065

n= periods per year =  12

t= years = 15



 

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