Question:

7. (Periodic compounding) If $3,500 is invested at 4%

Last updated: 7/22/2022

7. (Periodic compounding) If $3,500 is invested at 4%

7. (Periodic compounding) If $3,500 is invested at 4% interest compounded monthly, then how much will be in the account in 5 years? Setup an equation and solve. Label your answer and round to two decimal places. P = r= k= t = S = ?