11-07-2018
Mathematics

contestada

How much would $120 invested at 6% interest compounded monthly be worth after 21 years? Round your answer to the nearest cent.

Respuesta :

Аноним Аноним

11-07-2018

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

Answer Link

Otras preguntas

Who discovered that the Earth took 365 days to move around the Sun?

What is 6.82 as a mixed number in simplest form?

What is the Hcf of 25 and 125

In an 8.00 km race, one runner runs at a steady 11.0 km/h and other runs at 14.8 km/h. How far from the finish line is the slower runner when the fast runner fi

Theo had a balance of -4 in his savings account. After making a deposit , he has $25 in his account . What is the overall change to his account ?

How do you read a map

What type(s) of symmetry does this figure have?

true or false At 43, John Kennedy was the nation’s youngest elected president.

how do you answer this question y = 9 - 5x -3 = x

The water skier hass a mass of 68 kg. Calculate the resultant force acting on the water skier while accelerating.