Hurry, it’s a test!!! Plz!
1 answer:
You might be interested in
$ 159,744.59 will be in the account after 20 years.
Answer: Option A
<u>Step-by-step explanation:</u>
Need to find out the amount present in the account after 20 years. The formula to find out the future value is,
Here
p : amount deposit monthly =$500
r : rate of interest = = 0.0275
n : 12(compound monthly)
t : time =20
By substituting all the given datas in the above equation, we get