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

michael Jackson is 50 years old when he was 50 years old when he passed Michael Jackson was 50

Isabel’s first car had a manual stick shift. After many years of driving an automatic car, she needs to use her sister’s car, which also has a stick shift. Isab

Which was a fundamental element of supply-side economics?

HELP FAST!!!!!!!!!!!!

How many rights does US constitution endow you as an individual ?

Where in south america are the most active volcanoes located?

Car rental agency A charges $50 per day plus 10 cents per mile driven. Agency B charges $20 per day plus 30 cents per mile driven. For a one-day rental it is ch

if f(x) = x^2 - 2 and g(x)=6x +4 for which value of x does (f + g)(x)=0

Someone help me please

A bag contains 12 green marbles and 9 white marbles. In simplest form, what are the odds in favor of drawing a white marble? A. 4:7 B. 3:4 C. 1:7 D. 4:3