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expeople1 [14]
3 years ago
13

Find the amount accumulated if $10000 is invested for 5 years at a rate of 5.9% compunded monthly.

Mathematics
1 answer:
Harman [31]3 years ago
4 0
The Answer:  A = $ 13,421.56

Formula A=P(1 + r/n)^(nt)   A=10000(1+0.059/12)^(12(5)) = $ 13,421.56


V = the future value of the investmentP = the principal investment amountr = the annual interest raten = the number of times that interest is compounded per yeart = the number of years the money is invested for
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