SOLUTION: An investment earns 5.5% annual interest, compounded monthly. If $1800 is invested, what is the balance after 2 months?

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Question 617174: An investment earns 5.5% annual interest, compounded monthly. If $1800 is invested, what is the balance after 2 months?
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
1800 * [1 + (.055 / 12)]^2