we are given
investment amount is 2300
so,
[tex] P=2300 [/tex]
[tex] r=6.6% [/tex]
[tex] r=0.066 [/tex]
it is compounded monthly
so,
n=12
now, we can use formula
[tex] FV=P(1+\frac{r}{n})^{nt} [/tex]
now, we can plug values
t=7/12
and we get
[tex] FV=2300(1+\frac{0.066}{12})^{7} [/tex]
now, we can find FV
[tex] FV= $2390.02454 [/tex]............Answer
