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

asked Sep 8, 2022 171k views

14 votes

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13 votes

Answer:

62859.23

Explanation:

our equation is as follows

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

Fooman answered Sep 9, 2022

8.5k points

2 votes

Answer:

Explanation:

It’s a

Rafa Romero answered Sep 13, 2022

8.4k points

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