<PRE><B>Question 121440</B>
IF you put 4,000 in a bank account earning 2.5%interest compounded mothly( twelve times a year), how much money will be in the account after 3 years? round answer to nearest penny.
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A(t)=P(1+r/n)^(nt)
A(3)=4000(1+0.025/12)^(36)
A(3)=4000(1.0778)
A(3)=$4311.20
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Cheers,
Stan H.
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