SOLUTION: what is the value after 4 years if $8,700 is invested in an account that pays 9% interest compounded monthly?

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Question 730497: what is the value after 4 years if $8,700 is invested in an account that pays 9% interest compounded monthly?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=8700(1+0.09/12)^4*12
FV=8700(1.0075)^48
FV=8700(1.4314)
FV=$12,453.18