Answer:
~820.8$
Step-by-step explanation:
The total money (M) after 18 years could be calculated by:
M = principal x (1 + rate)^time
with
principal = 400$
rate = 4% compounded monthly = 0.04/12
time = 18 years = 18 x 12 = 216 months (because of compounded monthly rate)
=> M = 400 x (1 + 0.04/12)^216 = ~820.8$
