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25-05-2021
Mathematics

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How much interest will you have in 6 months if you invest $1,000 at 3% compounded monthly? round your answer to the nearest penny/hundredth. please help

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Fluttereye16 Fluttereye16

25-05-2021

You would use the equation 1000(1+0.3)^x
Plug in 6 months for x
1000(1.3)^6
When you solve for that you get 4826.809 and then round to the nearest tenth I would assume so 4826.8
Hope this helps!

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