Question

Peyton received a $5,000 bonus at work, and plans to invest it today. Her investment account will earn a 5% interest rate, compounded monthly. What will her account value be in 20 years?

Answer 1

Recieved I hope I could helppp

Answer 2

FV = PV (1 + )nt

PV = $5,000

r = 0.05

n = 12

t = 20

FV = 5,000 (1 + )12 · 20

= 13,563

Explanation: