document.write( "Question 868234: How much would $300 invested at 4% interest compounded monthly be worth after 8 years? Round your answer to the nearest cent. Do not include units in your answer. \r
\n" ); document.write( "\n" ); document.write( " A(8)= 300 ( 1+ 0.04/12) ^12(8)
\n" ); document.write( "
\n" ); document.write( " A(8) =300(1+ 0.04/12)^96
\n" ); document.write( " A(8)=300(1+0.003)^96
\n" ); document.write( " A(8)=300(1.003)^96
\n" ); document.write( " A(8)=300(1.33)
\n" ); document.write( " A(8)=399
\n" ); document.write( " Is this correct? \n" ); document.write( "

Algebra.Com's Answer #523432 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!
A(8)=300(1.0033)^96 Might recommend using 1.0033 \n" ); document.write( "

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