You deposit $3000 in an account earning 6% interest compounded monthly. How much will you have in the account in 5 years?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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You deposit $3000 in an account earning 6% interest compounded monthly. How much will you
have in the account in 5 years?
Transcribed Image Text:You deposit $3000 in an account earning 6% interest compounded monthly. How much will you have in the account in 5 years?
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