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If $75 is invested at an interest rate of 8% per year and is compounded monthly, how much will the investment be worth in 15 years? O $237.91 $248.02 $642.45 $832.21

If $75 is invested at an interest rate of 8% per year and is compounded monthly, how much will the investment be worth in 15 years? O $237.91 $248.02 $642.45 $832.21
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25 votes
If $75 is invested at an interest rate of 8% per year and is compounded monthly, how much

will the investment be worth in 15 years?
O $237.91
$248.02
$642.45
$832.21

User Mika Tuupola
by
9.1k points

1 Answer

7 votes
The amount of money is $248.03
User Camusensei
by
9.1k points
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