9. Suppose $100 is invested every month at 6% annual interest,compounded monthly.(a) What is the value after 10 years?(b) How much total was invested? In other words, what is the total amount of all payments

Chris Brand asked Feb 23, 2023

54,661 views

45 votes

Chris Brand asked Feb 23, 2023

3.4k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

17 votes

The rule of the compounded interest including the initial amount is

Where,

A is the new amount

Shareen answered Mar 1, 2023

2.7k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers