The formula for determining interest compounded monthly is A = P(1 + r over 12)12t, where A represents the amount invested after t years, P the principal invested, and r the interest rate. Jimmy invests $2,000 at an interest rate of 10% for 4 years, while Jenny invests $2,000 at an interest rate of 5% for 8 years. Determine the amount of return gained by Jimmy and Jenny. In complete sentences, summarize your results.

Question

pooja195 · Answer

http://openstudy.com/study#/updates/4fd6af42e4b04bec7f17cb2f this should help :)

tkhunny · Answer

Have you considered entering the given data into the given formula?