SOLUTION: Compound Interest....tried but have not been able to get it right. Help Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to t

Question 1057992: Compound Interest....tried but have not been able to get it right. Help
Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $6500, r = 4% compounded monthly, t = 10 years
Answer by josgarithmetic(39623) (Show Source): You can put this solution on YOUR website!
Same idea. See the previous example. This time, the percentage rate PER MONTH is , or 0.003333333; and the 10 years means 120 compounding periods.
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