Register
Find the future value of $85,000 invested for 14 years at an interest rate of 7.4 percent per year compounded monthly.
114k views
14 votes
Find the future value of $85,000 invested for 14 years at an interest rate of 7.4 percent per year compounded monthly.

User Sharan Rajendran
by
7.7k points

1 Answer

7 votes

Answer:

At the end of 14 years, your savings will have grown to $230,929.

You will have earned in $145,929 in interest.

Step-by-step explanation:

User Sharkfin
by
8.4k points
← Prev Question Next Question →

No related questions found

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

9.5m questions

12.2m answers

Other Questions

Who was Adam Smith ? Anybody?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
Link Copied!