[tex]\bf ~~~~~~ \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$500\\
r=rate\to 6\%\to \frac{6}{100}\to &0.06\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{monthly, thus twelve}
\end{array}\to &12\\
t=years\to &5
\end{cases}
\\\\\\
A=500\left(1+\frac{0.06}{12}\right)^{12\cdot 5}\implies A=500(1.005)^{60}\implies A\approx 674.42508[/tex]
