SOLUTION: Billy deposits $4500 at 12% interest monthly find the amount in the account after 4 months?

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Question 1132507: Billy deposits $4500 at 12% interest monthly find the amount in the account after 4 months?
Answer by addingup(3677) About Me  (Show Source):
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Here is the answer for:
12% annual interest, compounded monthly
Find amount after 4 months:
.
4500(1+(0.12/12))^4
4500(1.01)^4
4500*1.0406 = 4682.70