Joanna place $1200 in a savings account that earns 1.8% annual interest and compounds monthly.
If she makes no withdrawals or additional deposits, what is the total amount in the account after 5 years?
A=P(1+(r)/(n))ⁿᵗ
(A) $1497.62
(B) $1312.92
(C) $1375.31
(D) $1298.48
If she makes no withdrawals or additional deposits, what is the total amount in the account after 5 years?
A=P(1+(r)/(n))ⁿᵗ
(A) $1497.62
(B) $1312.92
(C) $1375.31
(D) $1298.48