Consider a bank account that pays 6% annually with monthly compounding. You made a $1,000 deposit in
Fantastic news! We've Found the answer you've been seeking!
Question:
Consider a bank account that pays 6% annually with monthly compounding. You made a $1,000 deposit in this account exactly 20 years (240 months) ago. Find the account's current balance in dollars and cents Referring to the previous problem, how much interest-on-interest have you earned?
Posted Date: