alshera12 alshera12

13-10-2016
Mathematics

Answered

how much would $120 invested at 6% interest compounded monthly be worth after 21 years? round to the nearest cent

Verified Answer :

Aliwohaish12 Aliwohaish12

31-10-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 120
R interest rate 0.06
K compounded monthly 12
T time 21 years
A=120×(1+0.06÷12)^(12×21)
A=421.72

Hope it helps!

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kyliej7 kyliej7

26-02-2021

Answer: 421.72

Step-by-step explanation:

A P E X

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