your bank offers 6% annual interest , compounded monthly. If you start with $500 in your account, how much will you have after 3 months

brainliest??

Step-by-step explanation:

Example 3: How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years? ⎝ ⎠ Plug in the given information. P = 7007.08 Round your final answer to two decimals places. You would need to deposit $7007.08 to have $12000 in 6 years.

Calculating monthly compound interest

Divide your interest rate by 12 (interest rates are expressed annually, so to get a monthly figure, you have to divide it by the number of months in a year.)

Add 1 to this to account for the effects of compounding.

8496 cars

step-by-step explanation:

what