Keishelle S.

asked • 06/21/20

You deposit $300 each month into an account earning 5% interest compounded monthly (a)how much will you have in 30 years?

(b) how much total money will you put into the account?


(C) how much total interest will you learn ?

1 Expert Answer

By:

Jeffrey Z. answered • 06/21/20

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A) You will have $250717.90 in the account.

B) You will have put $108000 into the account.

C) You will have earned $142717.90 in interest.

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Keishelle S.

Thank you so much!
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06/21/20

Keishelle S.

Do u mind sharing the formula used for (a )
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06/21/20

Jeffrey Z.

Feel free to message me and I can walk you through the formula!
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06/21/20

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