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4 years ago

9

Sean wants to have an investment worth $15,000 in ten years. How much money should he invest today if the annual interest rate o

f the account is 5.0% and it is compounded monthly?

1 answer:

N76 [4]4 years ago

8 0

Answer:

#30,000

Step-by-step explanation:

Intrest=15,000

Time=10yrs

Percent=5.0%

Rate=?

R=I*100/PT

R=15,000*100/5.0*10

R= 1500000/50

R=30,000

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