SOLUTION: The question is "$700 is deposited in a bank account paying 0.75% compounded interest monthly. What is the balance after 2 years?"
Since the interest is 0.75% monthly, I changed
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Since the interest is 0.75% monthly, I changed
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Question 873404: The question is "$700 is deposited in a bank account paying 0.75% compounded interest monthly. What is the balance after 2 years?"
Since the interest is 0.75% monthly, I changed to it yearly, so the formula I used is
Am I correct?
thank you in advance Answer by ewatrrr(24785) (Show Source):
