Question 1195626
this is (r/n)*P*(1+(r/n))^nt/(1+(r/n))^n-1
round at end
0.02/12=0.0016667 and *P=46.66667
the second part is 1.0016667^60 (5 years) divided by 1.0016667^60 minus 1
that is 10.517
Multiply that by the first part above to get $490.78