1 year and the beginning balance is 626.40 with an interest rate of 8% whats the ending balance?
If it is compounded and added annually then
\(FV=626.40*(1+0.08)^1\\ FV=626.40*1.08\\ FV=$676.51 \)
Thank you melody!
You are very welcome Beyonder
Welcome to the forum :)
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