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3 years ago

7

How much would $100 invested at 6% interest compounded monthly be worth after 20 years? Round your answer to the nearest cent. A

. $220.00 B. $320.71 C. $110.49 D. $331.02

1 answer:

MissTica3 years ago

8 0

Total = 100.00 * (1 + .06/12)^12*20
Total = 100.00 * (1.005)^240
Total = 100.00 * <span> <span> <span> 3.3102044758 </span> </span> </span>
Total = 331.02
Answer is D

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