SOLUTION: DETERMINE THE BALANCE ON $4000 WITH 3.8% INTEREST CACULATED MONTHLY FOR 4 YEARS?

SOLUTION: DETERMINE THE BALANCE ON $4000 WITH 3.8% INTEREST CACULATED MONTHLY FOR 4 YEARS?

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Question 905837: DETERMINE THE BALANCE ON $4000 WITH 3.8% INTEREST CACULATED MONTHLY FOR 4 YEARS?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=4000(1+0.038/12)^4
FV=4000(1.003167)^4*12
FV=4000*1.163899
FV=$4655.60
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