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2 years ago

13

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

1 answer:

Harman [31]2 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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