Answer:
C-2
Step-by-step explanation:
Because you have not provided an image its hard for me to give you an answer.
2(p+1)=24
divide both sides by two
p+1=12
subtract 1 from both sides
p=11
The original price I believe would be $349.44
The future value of the investment if the interest is compounded monthly is $89,354.89.
<h3>What is the future value of the investment?</h3>
Given that;
- Principal P = $20,000
- Annual interest rate r = 5% = 5/100 = 0.05
- Time t = 30 years
- Compound monthly = 12
- Future value = A = ?
Using the compound interest formula;
A = P( 1 + r/n )^(nt)
We plug in our values.
A = 20000( 1 + 0.05/12 )^(12 × 30)
A = 20000( 1 + 0.0041666666666667)^(360)
A = 20000( 1.0041666666666667)^(360)
A = 20000( 4.46774965 )
A = 89354.89
Therefore, the future value of the investment if the interest is compounded monthly is $89,354.89.
Learn more about compound interest here: brainly.com/question/21270833
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