Question 1201069
<pre>
You invest $ 5000 in Acme Inc. on January 1, 2000. Your investment returns 2.75 % compounded monthly. How much
money will you have on June 30, 2006?

CAN'T believe those 2 "respondents" rounded too early, as usual, and both came up the same WRONG answr: $5,981.
Is this some kind of mutiny? One AI respondent replicating another's WRONG answer and maybe trying to "drum" up
support for each other's ineptitude?

Formula for the FUTURE VALUE of $1: {{{matrix(1,3, A, "=", P(1 + i/m)^(mt))}}}, where:
        {{{A}}} = Accumulated amount/FUTURE VALUE (UNKNOWN, in this case)
        {{{P}}} = Present Value, or Principal invested, or INITIAL amount deposited/Invested ($5,000, in this case)
        {{{i}}} = Annual Interest rate (2.75%, or .0275, in this case)
        {{{m}}} = Number of ANNUAL compounding periods (monthly, or 12, in this case)
        {{{t}}} = Time, in years ({{{matrix(1,3, 6&1/2, or, 6.5)}}}, in this case)

      {{{matrix(1,3, A, "=", P(1 + i/m)^(mt))}}} becomes: {{{matrix(1,3, A, "=", "$5,000"(1 + .0275/12)^((12 * 6.5)))}}}, and then FUTURE VALUE, or {{{highlight_green(matrix(1,3, A, "=", highlight("$5,977.39")))}}}</pre>