# SOLUTION: How much would \$200 invested at 8% interest compounded monthly be worth after 6 years? Round your answer to the nearest cent. Do not include units in your answer.

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 Click here to see ALL problems on Money Word Problems Question 614962: How much would \$200 invested at 8% interest compounded monthly be worth after 6 years? Round your answer to the nearest cent. Do not include units in your answer. Answer by unlockmath(1599)   (Show Source): You can put this solution on YOUR website!Hello, The formula to use is: A=P(1+r/n)^nt The key is to understand what these letters mean. I'll plug in the numbers and you'll get the idea. A=200(1+.08/12)^12(6) Get out your scientific calculator. A=\$322.70 (Approx) Make sense? RJ www.math-unlock.com