graysonx92
contestada

Maya invests $3,000 into a brokerage account
which earns 10% per year. In 15 years, how
much will Maya's investment be worth if
interest is compounded monthly? Round to the
nearest dollar.

Respuesta :

Answer: $13361.76

Step-by-step explanation:

Amount = initial balance(1 + annual rate/periods per year)^(periods per year*years)

A = 3000(1+0.1/12)^12*15

A = 3000(1.0083)^180

A = 3000(4.4275)

A = 13361.76

Hope this helps!

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