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1. If $18,000 is invested at 6% compounded monthly, what is the amount after 7 years?

1. If $18,000 is invested at 6% compounded monthly, what is the amount after 7 years?
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4 votes
1. If $18,000 is invested at 6% compounded monthly, what is the amount after 7 years?

User Lisa Ta
by
8.5k points

1 Answer

4 votes
P = 18,000
R=6%
T=7 years

A = P ( 1 + 1 divided by r) raised to n
Substitute the numbers an u will fin the answer
User Radoslav Hristov
by
8.3k points
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