Register
How much would $120 invested at 86% interest compounded monthly to be worth after 21 years round to the nearest cent
42.3k views
5 votes
How much would $120 invested at 86% interest compounded monthly to be worth after 21 years round to the nearest cent

User Colin Superdog
by
6.7k points

1 Answer

4 votes
The formula is
A=p (1+r/k)^kt
A future value?
P present value 120
R interest rate 0.86
K compounded monthly 12
T time 21 year
A=120×(1+0.86÷12)^(12×21)
A=4,510,568,953.1372
User Will Croft
by
6.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.3m questions

9.7m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
Write words to match the expression. 24- ( 6+3)
Please solve the following equation. x-6x=56
whats the most accurate estimation of 65+77
Find the additive inverse of 18/23
Link Copied!