Find the amount of money (Future Value) in an account where $700 is deposited (Present Value) at an interest rate of 2% per year compounded monthly (12 times per year) and the money is left in the account for 10 years. The final amount is $_____________________ Round your answer to 2 decimal places

Find the amount of money (Future Value) in an account where $700 is deposited (Present Value) at an interest rate of 2% per year compounded monthly (12 times per year) and the money is left in the account for 10 years. The final amount is $_____________________ Round your answer to 2 decimal places

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter5: Exponential And Logarithmic Functions

Section5.1: Exponential Functions And Their Graphs

Problem 88E

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