You deposit 10 per month in a bank that offers an annual interest rate of 6. At the end of three years your balance is?

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2026-03-30 12:20

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To calculate the future balance after depositing $10 per month for three years at an annual interest rate of 6%, we can use the formula for the future value of a series of cash flows. The total deposits over three years will be $10 x 36 months = $360. With the interest compounded monthly, the future value of these deposits will be approximately $396.17. Therefore, at the end of three years, your balance will be around $396.17.

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