You invest $300 in an account that has an interest rate of 1.3%, compounded monthly. how much money is in the account after 20 years? round your answer to the nearest whole number.

$389

Step-by-step explanation:

The formula for final value of compound interest is given by

Here, we have

P = $300

r = 0.013

t = 20 years

n = 12

Substituting these values and find A

Therefore, in 20 years, the account will have $389.

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