Jason saved money over the summer, accumulating $1,700. He opened a savings accoun that eams 4% annual interest compounded monthly. If Jason does not deposit or withdraw from this account for 12 years, find its balance.

$2,516

Step-by-step explanation:

Interest: prt

Principal: $1700

Rate: 4%

Time: 12 years

(1700)(0.04)(12)=816

1700+816=2516

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