You deposit $3500 in a savings account that has a rate of 3.4%. the interest is compounded monthly. a.) How much will you have after 6 years? b.) Find the interest after 6 years.

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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You deposit $3500 in a savings account
that has a rate of 3.4%. the interest is
compounded monthly.
a.) How much will you have after 6 years?
b.) Find the interest after 6 years.
Transcribed Image Text:You deposit $3500 in a savings account that has a rate of 3.4%. the interest is compounded monthly. a.) How much will you have after 6 years? b.) Find the interest after 6 years.
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