SOLUTION: Amanda invests $5400 in a new savings account which earns 5.8% annual interest, compounded monthly. What will be the value of her investment after 5 years? Round to the nearest c

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Question 1128305: Amanda invests $5400 in a new savings account which earns 5.8% annual interest, compounded monthly. What will be the value of her investment after 5 years? Round to the nearest cent.
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
5400(1+(0.058/12))^(12*5)
= 5400(1.335) = 7209