# SOLUTION: three hundred years ago your ancestor invested 1$for you at 4.5% compounded monthly. HOw much is it worth now and what if she had invested it at 5% also compounded monthly Algebra -> Algebra -> Customizable Word Problem Solvers -> Finance -> SOLUTION: three hundred years ago your ancestor invested 1$ for you at 4.5% compounded monthly. HOw much is it worth now and what if she had invested it at 5% also compounded monthly      Log On

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 Question 538442: three hundred years ago your ancestor invested 1\$ for you at 4.5% compounded monthly. HOw much is it worth now and what if she had invested it at 5% also compounded monthlyAnswer by solver91311(16872)   (Show Source): You can put this solution on YOUR website! Compounded Monthly: Where is the value now, is the value of the initial investment, is the interest rate expressed as a decimal (the given percentage divided by 100), and is the number of years of the investment. Just plug in the numbers and do the arithmetic. Hint: The "x^y" button is handy for raising somethig to the 3600th power. John My calculator said it, I believe it, that settles it