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Dmitry_Shevchenko [17]

4 years ago

11

How much would $100 invested at 8% interest compounded monthly be worth after 6 years? Round your answer to the nearest cent. Do

not include units in your answer.

1 answer:

Neko [114]4 years ago

4 0

<span><span>FV = $100*(e^rt)
FV = $100*e^(0.08*6)
FV = $100*e^0.48
FV = $100*1.616
FV = $161.6</span><span>
</span></span>

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