Kenji invests $3,500 at an interest rate of 3%, compounded monthly. How much is the investment worth at the end of 5 years?
Question
Answer:
3500(1 + .03/12)^12(5)3500(1.0025)^60
The answer is:
$4,065.66 or $4,066
Hope this helps :)
solved
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11 months ago
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