You deposit $500 that pays 4.44% Interest monthly, how much do you have in your account after 20 years?

$1,213.14

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

P = initial balance

r = interest rate

n = number of times compounded annually

t = time

Now lets plug in the values into the equation:

= 1,213.14

Your answer is $1,213.14.

step-by-step explanation:

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