635.24
313.37
610.5
At 4% annual interest compounded monthly, it's 96 periods of 1/3% each.300 x (1.00333...)96 = 412.92 (rounded)
0.67 percent
"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.
161.35
313.37
322.7
648.68
187.32
283.52
572.56
610.45
275.28
674.43
$73053.88 when compounded month your yearly rate would be 0.061678% * * * * * True, but in real life the quoted interest rate, "6 percent compounded monthly", should read "an interest rate, such that, if it were compounded monthly, would give an annual equivalent rate of 6 percent". The equivalent of 6% annual is 0.487% monthly since 1.0048712 = 1.06