Question

If $15,000 is invested at 12% interest compounded monthly, find the interest earned in 12 years.​

Answer 1

62859.23

Explanation:

our equation is as follows

`PV(1+(i)/(n))^(nt))\\\\15000(1+(.12)/(12))^(12*12)\\15000(1+.01)^(144)\\\\62859.23`

Answer 2

A

Explanation:

It’s a