SOLUTION: Milena deposited $6,000 in a certificate of deposit (CD) account that pays 6% annual interest, compounded monthly. How much will the balance of the account be in 4 years?

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Question 1100966: Milena deposited $6,000 in a certificate of deposit (CD) account that pays 6% annual interest, compounded monthly. How much will the balance of the account be in 4 years?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
6000(1+(0.06/12))^(12*4) = 7622.93