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