Question

An investing group has $50,000 to invest. They put the money in an account that has an annual interest rate of 6%, compounded monthly. How much money will the group have at the end of 10 years?

Answer 1

Answer:

Use the formula for compound interest to determine the amount of money in each ... An investing group has $50,000 to invest. They put the money in an account that compounds interest ... How much money will the group have at the end of 10 years? 20. Interest is compounded quarterly at Money Bank at a rate of 5.5%.

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