Respuesta :
There is $6,370. 78 money is in the account after 4 years.
Given
Isabel deposits $6,000 into an account that earns 1. 5% interest compounded monthly.
Compound interest
Compound interest is the interest calculated on the principal and the interest accumulated over the previous period.
The amount after 4 years is calculate by following formula;
[tex]\rm V(t)= P(1+\dfrac{r}{n})^{nt}[/tex]
Where t = years since initial deposit n = number of times compounded per year r = annual interest rate (as a decimal) P = initial (principal) investment V(t) = value of investment after t years.
Substitute all the values in the formula;
[tex]\rm V(t)=6,000\times (1+\dfrac{0.015}{12})^{12\times 4}\\\\V(t)=6,370.78[/tex]
Hence, there is $6,370. 78 money is in the account after 4 years.
To know more about compound interest click the link given below.
https://brainly.com/question/3068001
