How much would $300 invested at 4% interest compounded monthly be
1 answer:
Answer:$412.9
Explanation:
We are given that
P=$300
r=4% =0.04
Time,t=8 years
1 year=12 month
Therefore,n=12
We have to find the amount after 8 years.
Substitute the values in the above formula
Then, we get
Hence, amount after 8 years would be worth=$412.9
Step-by-step explanation:
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