tannerlabarreare tannerlabarreare
  • 18-03-2021
  • Mathematics
contestada

How much would $500 invested at 6% interest compounded monthly be
worth after 5 years? Round your answer to the nearest cent.

A(t) = P (1+r/n)nt

Respuesta :

mlkuhl
mlkuhl mlkuhl
  • 18-03-2021
The interest: $1080.00

If you borrowed the money, you would now owe $1580.00

If you loaned someone the money, you would now be due $1580.00.

Hopefully this helps!
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