A $3500 deposit is earning 6.75% compounded monthly. Find the balance after 6 months.

Kaycee Roche

Kaycee Roche

Answered question

2021-10-04

A $3500 deposit is earning 6.75% compounded monthly. Find the balance after 6 months.

Answer & Explanation

gwibdaithq

gwibdaithq

Skilled2021-10-05Added 84 answers

Suggest the balance after 6 months is A.
A=$3500(1+0.067512)12×0.5
Calculate
A$3,619.80

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