Question

. If $240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years?

Answer 1

A(14)=240(1+0.09)^14-1

A(14)=240(1.09)^13

A(14)=240(3.065)

A(14)=735.79

Make sure the calculations m