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HELP ASAP PLEASE NO LINKS Matthew invested $200 at an interest rate of 5%, compounded monthly. How much is his investment worth after 6 years?
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23 votes
HELP ASAP PLEASE NO LINKS

Matthew invested $200 at an interest
rate of 5%, compounded monthly.
How much is his investment worth
after 6 years?

User Draupnie
by
7.3k points

1 Answer

5 votes

Answer:

  • $10

Explanation:

Given equation:

  • 5% of $200

We simplify the equation to get the answer.

  • 200 * 0.05
  • = 10.

After 6 years, The investment worth will be $10.

User SamJolly
by
8.8k points
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