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Kumar has deposited RM3,500 in a bank account which pays 4% per year, and compounded monthly. How much will he have at the end of 4 years?

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解答

KumarhasdepositedRM3,500inabankaccountwhichpays4%peryear,andcompoundedmonthly.Howmuchwillhehaveattheendof4years?

解答

Amount:4106.2
求解步骤
Translate the problem into an equation:A=3500(1+120.04​)12⋅4
3500(1+120.04​)12⋅4=4106.19534…
Round to the nearest hundredth:4106.2
Amount:4106.2

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