Question

If you deposit $5000 into an account paying 6% annual interest compounded monthly, how much money will you have in the account after 10 years?

Answer 1

Answer:

Ans: 3000

Step-by-step explanation:

As, prt/100

p=5000

r=6

t=10

now, 5000×6×10/100

=3000

Hope it is helpful