Step-by-step explanation
In the question, we are given the following data
Principal = $46, 400
Time= 2 years
Rate =19% compounded on a monthly basis()
We will use the compound interest formula below to solve the question.
Therefore we will insert the parameters into the formula above. Since there are 12 months in a year, "n" becomes 12
Answer: The future investment would be 67648.32