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OpenStudy (anonymous):
Find the amount A accumulated after investing a principal P=$17,000 for t=9 years at an interest rate r=4% compounded monthly. (Assume no withdrawals are made.) The amount after 9 years will be $____
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OpenStudy (anonymous):
FV = PV(1+i/12)^n(12) FV = 17000(1+ 0.04/12)^9(12) FV = 24352.02
OpenStudy (anonymous):
Thanks
OpenStudy (anonymous):
np glad to help
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