If I invested $4500 at 10% compounded monthly. How much would be in the account in 3 years? Round to nearest cent

$6,066.82

Step-by-step explanation:

Lets use the compound interest formula provided to solve this:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 10% into a decimal:

10% -> -> 0.10

Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:

The balance after 3 years will be $6,066.82

well there are two answers for that.

1: you need 120 ones then that will equal up to 120.

2: you could also do one 100 and 2 tens.

those are the answers that i have thought of.