SOLUTION: find the accumulated value of an investment of $8000 at 3% compounded monthly for 3 years

SOLUTION: find the accumulated value of an investment of $8000 at 3% compounded monthly for 3 years

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Question 690549: find the accumulated value of an investment of $8000 at 3% compounded monthly for 3 years
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=8000(1+0.03/12)^12*3
FV=8000(1.0025)^36
FV=8000*1.094
FV=$8752
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