Your college fund has $65,000. It is currently in an account which pays 2.3% compounded monthly. How much money will you have in 15 years

$91,749.04

Step-by-step explanation:

Lets use the compound interest formula provided to solve this:

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First, change 2.3% into a decimal:

2.3% -> -> 0.023

Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:

You will have $91,749.04 in 15 years.

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step-by-step explanation: