15000 bearing a deposit for five months at a 6 percent compounded monthly how much will my deposit be in 5 months
FV =15,000 [1 + 0.06/12]^5
FV =15,000[1 +.005]^5
FV =15,000 x 1.005^5
FV =15,000 x 1.025251253128125
FV =$15,378.77
