Question

If John invests the $1,000 he receives today at an interest rate of 4.8% compounded monthly, in one year the investment will be worth how much?
When John receives $1,000 a year from now, the $1,000 he invested today will be worth how much more than the $1,000 he receives in the future?

Answer 1

First you have to do 12x1200 then the answer is 9999