What will 82,000 grow to be in 11 years if it is invest3d today at 8%...
What will 82,000 grow to be in 11 years if it is invest3d today at 8% and the interest rate is compounded monthly?
Homework Answers
We use the formula:
A=P(1+r/1200)^12n
where
A=future value
P=present value
r=rate of interest
n=time period.
A=$82000(1+0.08/12)^(12*11)
=$82000*2.403869279
=$197,117.28(Approx).
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What will 82,000 grow to be in 11 years if it is
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