SOLUTION: Please help
Calculate the accrued principal on 3000 invested at 12% per annum for three years and compounded monthly.
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Question 1193575: Please help
Calculate the accrued principal on 3000 invested at 12% per annum for three years and compounded monthly.
Answer by math_tutor2020(3817) (Show Source): You can put this solution on YOUR website!
Answer: $4292.31
Work Shown:
A = P*(1+r/n)^(n*t)
A = 3000*(1+0.12/12)^(12*3)
A = 4292.30635077474
A = 4292.31
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