# SOLUTION: If \$350 is deposited in an account paying 12% of annual interest compounded monthly, then how much is in the account at the end of 6 years and 6 months?

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 Click here to see ALL problems on Money Word Problems Question 133514: If \$350 is deposited in an account paying 12% of annual interest compounded monthly, then how much is in the account at the end of 6 years and 6 months?Answer by checkley71(8403)   (Show Source): You can put this solution on YOUR website!350(1+.12/12)^(6.5*12) 350(1+.01)^78 350(1.01)^78 350*2.173 \$760.56 ANSWER FOR THE AMOUNT OF THE INVESTMENT AFTER 6 YRS. & 6 MOS.