Question

If you deposit $6,500 into an account paying 8% annual interest compounded monthly, how much interest will the account have earned after 7 years?

Answer 1

Answer:

$11358.24

Step-by-step explanation:

7×12 = 84

6500(1 + 0.08/12)⁸⁴

= 11358.24333

Answer 2

Answer:

The answer is $11358.24

hope this helps ;)