# You deposit $5000 in an account that pays 2% annual interest compounded monthly. How much do you have after 5 years?

##### 1 Answer

Oct 15, 2015

i got

#### Explanation:

i got {5000 * (1.02) as the amount you get at the end of 1 month, by the equation C=

so, the amount at the end of 5 years should be