SOLUTION: Billy invested $8,000 in a savings account paying 3.5% interest, compounded monthly. How much will Billy have after 12 years?

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Question 1132029: Billy invested $8,000 in a savings account paying 3.5% interest, compounded monthly. How much will Billy have after 12 years?
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
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FV = 8000%2A%281%2B0.035%2F12%29%5E%2812%2A12%29 = 12,168.25 dollars.    ANSWER