Ask a New Question

Determine the balance of $10,000 is invested at an APR of 9% compounded monthly for seven years.

1 answer

just plug it into your formula:

10000(1 + .09/12)^(12*7)

Ask a New Question or answer this question.

Similar Questions

On July 1, 1996, Anna invested $2000 in an account that earned 6%/a compounded monthly. On July 1, 2001, she moved the total
1. 0 answers
On July 1, 1996, Anna invested $2000 in an account that earned 6%/a compounded monthly. On July 1, 2001, she moved the total
1. 3 answers
Determine the principal P that must be invested at rater = 3 1 2 %, compounded monthly, so that $400,000 will be available for
1. 1 answer
Determine the balance A for P dollars invested at rate R compounded N times per year for T years. Round each amount to the
1. 1 answer

more similar questions