Given a starting principal of $30000, and a nominal interest rate of 2.0% compounded monthly, determine the accumulated amount after a term of 5 years. Round your answer to the nearest dollar. Accumulated Amount = $ Check

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Given a starting principal of $30000, and a nominal interest rate of 2.0% compounded monthly, determine
the accumulated amount after a term of 5 years. Round your answer to the nearest dollar.
Accumulated Amount = $
Check
Transcribed Image Text:Given a starting principal of $30000, and a nominal interest rate of 2.0% compounded monthly, determine the accumulated amount after a term of 5 years. Round your answer to the nearest dollar. Accumulated Amount = $ Check
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