What interest will be earned if $6900 is invested for 7 years at 13% compounded monthly?

asked Jun 27, 2019 54.1k views

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6 votes

Answer:

$6,900((1 + .13/12)^(12×7)) = $17,058.14

Interest = $17,058.14 - $6,900 = $10,158.14

Ross Moody answered Jul 2, 2019

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