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What's the future value of $1,200 after 5 years if the appropriate interest rate is 6%, compounded monthly?

What's the future value of $1,200 after 5 years if the appropriate interest rate is 6%, compounded monthly?
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What's the future value of $1,200 after 5 years if the appropriate interest rate is 6%, compounded monthly?

User Tutan Ramen
by
7.7k points

1 Answer

1 vote
Fv=1200(1+0.06/12)^12*5
Fv==1,618.62
User Kowser
by
7.8k points
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