Respuesta :
Answer:
$6841.56
Step-by-step explanation:
formula for compound interest is
[tex]A = P (1+\frac{r}{n})^{n*t}[/tex]
P is the initial amount= 6600
r is the rate of interest = 0.036
t is the number of years = 1
n = compounded monthly = 12
plug in the values in the formula
[tex]A = 6600(1+\frac{0.036}{12})^{12*1}[/tex]
[tex]A = 6600(1.003)^{12*1}[/tex]
A= 6841.55986990
$6841.56 is the balance of his account after the interest is paid for the year
