Paul Kohler inherits $50,000 and deposits it immediately in a bank account that pays 6% interest. No other deposits or

Paul Kohler inherits $50,000 and deposits it immediately in a bank account that pays 6% interest. No other deposits or

Question:

Paul Kohler inherits $50,000 and deposits it immediately in a bank account that pays 6% interest. No other deposits or withdrawals are made. In two years, what will be the account balance assuming monthly compounding?

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Answer rating: 100% (QA)

To calculate the account balance after two years with monthly compounding yo
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