SOLUTION: Suppose you invest $10,000 at 5.5% for 20 years.Find the future value if:
the interest is compounded monthly
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Question 272954: Suppose you invest $10,000 at 5.5% for 20 years.Find the future value if:
the interest is compounded monthly
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
10,000(1+.055/12)^(12*20)
10,000(1+.0045833)^240
10,000*1.0045833^240
10,000*2.9966=$29,966.02 ans.
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