A bank pays 8% annual interest compounded at the end of each month an account starts with $600 and no further withdrawals or deposits are made. 1. What is the monthly interest rate?
2. Write an expression for the account balance, in dollars, after one year.
3. What is the effective annual interest rate?​

72 is the answer to this problem

step-by-step explanation:

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i dont know

step-by-step explanation:

umm. i dont know

$655.61 which is option c

step-by-step explanation:

price of house =   $146,000

initial rate = 3.5%

mortgaged paid in this = 3.5 % of $146,000

                                        =

                                        =$5110

the total years would be = 7

total mortgaged paid = 7 * $5110

                                      =$35770

remaining money = $146000-35770

                                =$110230

new mortgaged payment = 5 % of 110230

                                            =  

                                            =$655.61