Question

Find the value of $825 invested at 5% with interest compounded twelve times per year for 9 years

Answer 1

$825.00([1 + 0.05/12]^[12 * 9])
= $825.00([1 + 5/1200]^108)
= $825.00([1 + 1/240]^108)
= $825.00([241/240]^108)
= $825.00(1.566846649)
= $1,292.65

Answer 2

Gee thanks @ihateschool18
Shucks you are welcome

Answer 3

thanks buddy :)