SOLUTION: Find the future value $3091.77 invested for 3 years at 4% compounded monthly

SOLUTION: Find the future value $3091.77 invested for 3 years at 4% compounded monthly

Algebra.Com

Question 761463: Find the future value $3091.77 invested for 3 years at 4% compounded monthly
Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
100 + 4% = 104% = 1.04.
3 years = 36 months
$3091.77 * 1.04^36
= $12688.42.
Hope this helps.
:-)
RELATED QUESTIONS
Find the future value of $233.00 deposited at the end of the month for 4 years at 12%... (answered by unlockmath)

find the value of $4000 invested at a rate of 3% compounded monthly for 8... (answered by TimothyLamb)

Find the future value of $600 for invested for 5 years at 8% compounded... (answered by rfer)

If $12,000 is invested at 4.5% for 20 years, find the future value of the interest is... (answered by ikleyn)

find the future value if 1000 if invested for 20 years at 8% compounded continously. (answered by jorel1380)

Find the future value of $2000 if it is invested for 4 years at an annual interest rate... (answered by Theo)

Find the future value of $233 deposited at the end of the month 4 years at 12% compounded (answered by Alan3354)

Find the present value and future value of monthly payments of 3,000 pesos for 4 years... (answered by Theo)

Find the present value that will give a future value of $9,280 at 9.75 % compounded... (answered by Edwin McCravy)