SOLUTION: You invest $1500 in an account with an interest rate of 8% for 12 years, making no other deposits or withdrawals. What will be in your account balance if the interest is compounded

SOLUTION: You invest $1500 in an account with an interest rate of 8% for 12 years, making no other deposits or withdrawals. What will be in your account balance if the interest is compounded

Algebra.Com

Question 617527: You invest $1500 in an account with an interest rate of 8% for 12 years, making no other deposits or withdrawals. What will be in your account balance if the interest is compounded monthly?
Answer by lynnlo(4176) (Show Source): You can put this solution on YOUR website!
$3,905.08
RELATED QUESTIONS
Hailey invested $460 in an account paying an interest rate of 4.5% compounded... (answered by stanbon)

you deposit 1800$ in a special savings account. the account earns interest at an annual... (answered by dfrazzetto)

Adrianne invested $2000 in an account at a 3.5% interest rate compounded annually she... (answered by checkley77)

Zachary invested $360 in an account paying an interest rate of 1.7% compounded daily.... (answered by Boreal)

Arianna invested $1,100 in an account paying an interest rate of 5.3% compounded daily.... (answered by Theo)

Aiden invested $280 in an account paying an interest rate of 3.4% compounded quarterly.... (answered by ankor@dixie-net.com)

Ayden invested $32,000 in an account paying an interest rate of 3.6% compounded monthly.... (answered by VFBundy,MathTherapy)

An amount of $1,000 is deposited into a bank account that pays 4% interest compounded... (answered by mananth)

camille receives an inheritance of $35,000(after taxes). she decides to invest all of it... (answered by stanbon)