Suppose you invest $3,500.00 in an account with an annual interest rate of 6% compounded monthly...

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Suppose you invest $3,500.00 in an account with an annual interest rate of 6% compounded monthly (6% ÷ 12 = 0.5% each month). At the end of each month, you deposit $250.00 into the account. Use this information to complete the table below. Round to the nearest cent in each step as needed. Month Prior Balance 0 1 2 3 4 $3,500.00 $4,036.34 0.5% Interest on Prior Balance $21.53 Monthly Deposit $250.00 $250.00 $250.00 $250.00 Ending Balance $3,500.00 $4,036.34 Suppose you invest $3,500.00 in an account with an annual interest rate of 6% compounded monthly (6% ÷ 12 = 0.5% each month). At the end of each month, you deposit $250.00 into the account. Use this information to complete the table below. Round to the nearest cent in each step as needed. Month Prior Balance 0 1 2 3 4 $3,500.00 $4,036.34 0.5% Interest on Prior Balance $21.53 Monthly Deposit $250.00 $250.00 $250.00 $250.00 Ending Balance $3,500.00 $4,036.34

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