Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you deposit $1,000 in an account offering 8% inter

You deposit $1,000 in an account offering 8% interest yield, compounded monthly. At the end...

90.2K

Verified Solution

Question

Accounting

You deposit $1,000 in an account offering 8% interest yield, compounded monthly. At the end of 5 years your total balance is (nearest $1)

a.) $1,369

b.) $1,469

c.) $1,486

d.) $1,490

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students