Carl deposited $1220 in a bank that pays 9% interest, compounded monthly. find the amount he will have at the end of 3 years.
a. $3431.45
b. $1596.55
c. $1549.40
d. $1334.44

At the beginning of year 1, carlos invests $600 at an annual compound interest rate of 4%. he makes no deposits to or withdrawals from the account. which explicit formula can be used to find the account's balance at the beginning of year 5? what is, the balance?