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Gold Door Credit Bank is offering 12 percent compounded monthly on its savings accounts monthly interest rate How much will you have in the account in two

Gold Door Credit Bank is offering 12 percent compounded monthly on its savings accounts monthly interest rate How much will you have in the account in two

Gold Door Credit Bank is offering 12 percent compounded monthly on its savings accounts (monthly interest rate 1%). If you deposit $2,000 today. a. (4pts) How much will you have in the account in two years (24 months)? b. (6pts) What is the effect of compounding?
 
mahesh 08-Mar-2020

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