Ask Question
27 November, 02:42

Find the amount accumulated if $10000 is invested for 5 years at a rate of 5.9% compunded monthly.

+5
Answers (1)
  1. 27 November, 04:42
    0
    The Answer: A = $ 13,421.56

    Formula A=P (1 + r/n) ^ (nt) A=10000 (1+0.059/12) ^ (12 (5)) = $ 13,421.56

    V = the future value of the investmentP = the principal investment amountr = the annual interest raten = the number of times that interest is compounded per yeart = the number of years the money is invested for
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Find the amount accumulated if $10000 is invested for 5 years at a rate of 5.9% compunded monthly. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers