SOLUTION: Find the balance after 6 years of a $3,000 investment at 4% annual rate with interest compounded monthly?

Question 1114715: Find the balance after 6 years of a $3,000 investment at 4% annual rate with interest compounded monthly?
Found 2 solutions by rfer, ikleyn:
Answer by rfer(16322)   (Show Source): You can put this solution on YOUR website!
FV=3000(!.04)^6
FV=3000(1.2653)
FV=3795.90
Answer by ikleyn(52752)   (Show Source): You can put this solution on YOUR website!
.
Find the balance after 6 years of a $3,000 investment at 4% annual rate with interest compounded monthly?
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= = $3812.22.

Be aware:   The other's tutor answer is   W R O N G !

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