SOLUTION: Calculate the coumpound interest. A(t)=P(1+r/n)^nt How much would $200 invested at 4% interest compounded monthly be worth after 30 years?

SOLUTION: Calculate the coumpound interest. A(t)=P(1+r/n)^nt How much would $200 invested at 4% interest compounded monthly be worth after 30 years?

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Question 200104: Calculate the coumpound interest.
A(t)=P(1+r/n)^nt
How much would $200 invested at 4% interest compounded monthly be worth after 30 years?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
A(30)=200(1+.04/12)^12*30
A(30)=200(1+.003333)^360
A(30)=200(1.003333)^360
A(30)=200*3.3131
A(30)=$662.62 ans.
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