jgraffin67 jgraffin67

10-07-2020
Mathematics

contestada

. 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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amanpreetshahi01 amanpreetshahi01

10-07-2020

A(14)=240(1+0.09)^14-1

A(14)=240(1.09)^13

A(14)=240(3.065)

A(14)=735.79

Make sure the calculations m

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