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The summer after sophmore haley and earned 2000. She decided to save it all and deposit it unto an account earning 5.8% interest compounded monthly. When haley finished college , 6 years later she decided to use money to put deposit on a car. How much money did haley have

Respuesta :

michelleperezmp58

Answer:

$8352.00

Step-by-step explanation:

the way to get the answer to this is you multiply

2000 x 5.8 %  = 116.00  

since the interest compound is monthly you then multiply

$116.00 x 12 = $1392.00

now you find out how much she will have after 6 years so, you multiply again

$1392.00 x 6 = $8352.00

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