3 years ago

How much would $200 invested at 4%/compounded monthly be worth after 8 years?

1 answer:

4 0

R = 4% = 0.04 compounded monthly = 12 times per year, for t = 8 years

principle P = 200

If you put those values in you get a(8)=200∗(1+0.0412)12∗8

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