steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and the interest is compounded mont

Question

2 years ago

14

steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and the interest is compounded mont

hly. steven also plans to contribute another $10,000 to the account one year (12 months) from now and another $20,000 to the account two years from now. how much will be in the account three years (36 months) from now?

Mathematics

1 answer:

Dafna11 [192] · Answer 1 · 2022-11-01T13:59:37+03:00

Dafna11 [192]2 years ago

3 0

Answer:

$39,999.52

Step-by-step explanation:

10,000 - 12% = 9,999.88

9,999.88 x 4 = 39,999.52