$20,000 deposit earning 3.5% compounded monthly, after 10 years

asked Oct 5, 2024 45.8k views

2 votes

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1 vote

r = 0.035

n = 12

t = 10

$A = P(1+(r)/(n))^(nt) = 20,000(1+(0.035)/(12))^((12)(10)) = 20,000(1+(0.035)/(12))^(120) \\$

$A = \$28,366.90$

Oyabi answered Oct 7, 2024

by Oyabi

7.5k points

5 votes

Answer:

Explanation:

Paul Mougel answered Oct 10, 2024

7.6k points

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