Jennifer places $500 into a savings account that is paying 1.5% annual interest. The interest is compounded monthly. How much money will be in the account in 3 years?

$522.99

Step-by-step explanation:

Fv = total amount plus interest over the given period of time

P = Principal amount deposited i.e $500

r = interest given 1.5% i.e 0.015

n = period of time the principal remains deposited. In this case annually i.e 12 months

FV = $522.99

a variable is any characteristics, number, or quantity that can be measured or counted. a variable may also be called a data item. hope i !