Mathematics
Wragg621
28

if $240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years?

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(2) Answers
Cibula685

The formula is A=p (1+r/k)^kt A future value? P present value 240 R interest rate 0.09 K compounded monthly 12 T time 14 years A=240×(1+0.09÷12)^(12×14) A=842.13

Malafronte697

842.13 is the answer I just triple checked

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