610.5
635.24
313.37
At 4% annual interest compounded monthly, it's 96 periods of 1/3% each.300 x (1.00333...)96 = 412.92 (rounded)
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
187.32
If you mean 5.8% annual interest rate compounded monthly, then (1000*.058)/12 = 4.83
635.24
313.37
648.68
187.32
322.7
161.35
572.56
283.52
610.45