I need help with this To compare investments, analysts convert monthly, quarterly, and semiannual rates to annual rates. If an investment of $100,000 is invested at 1.5% per month, compounded monthly, the growth can be modeled by the equation A(t) = 100,000(1.015)12t. What is the equivalent annual growth rate for this investment (rounded to the nearest hundredth of a percent) and what is it worth (rounded to the nearest thousand dollar) after 15 years?

Question

samantham_21 · Answer

no the answer choices are A)19.56% and 1,458,000 B) 15.01% and 814,000 C) 25.10% and 2,876,000 D) 12.02% and 547,000 @jackthegreatest

jackthegreatest · Answer

the problem is i know the answer now, but im not sure how to get there

samantham_21 · Answer

I got it right thank you