draines1955 draines1955

04-05-2020
Mathematics

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Hellen invested 20,000 that earns 4.68% compounded monthly for four years00 earn 4.68% compounded monthly for 4 years future value

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sqdancefan sqdancefan

05-05-2020

Answer:

24,108.59

Step-by-step explanation:

The future value formula seems applicable.

FV = P(1 +r/n)^(nt)

FV = 20,000(1 +0.0468/12)^(12·4) = 20,000(1.0039^48)

FV ≈ 24,108.59

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