Register
calculate the amount in an account that earns 4.25% apr, compound monthly, for 5 years if you invest $10,000
24.6k views
5 votes
calculate the amount in an account that earns 4.25% apr, compound monthly, for 5 years if you invest $10,000

User Iuristona
by
8.1k points

1 Answer

4 votes
FV = P(1+r)^n
FV = 10000(1+0.0425/12)^5*12
FV = 10000(1.003541666...)^60
FV = $12363.019
User Aaroncatlin
by
9.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.7m questions

11.4m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!