Answered

If $5000 is invested at an interest rate of 3.396 compounded monthly for 10 years, what would be the balance in the account
if it is left untouched. Round your answer to the nearest cent.
A. $6.917.88
B. $6,951.69
C. $5,139.21
D. $246,041.63

Answer :

meowmeowkitten64

Answer: D

Step-by-step explanation:

Months = 12 x 10 = 120months

100%+3.396%=103.396% / 100 = 1.03396

5000 X (1.03396)^120 = 275054.36

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