David invested $1000. ppm what would that money grow to the 18 months at 5.5% interest rate?

Question

Mathematics

Rohan Dean

5 July, 21:37

David invested $1000. ppm what would that money grow to the 18 months at 5.5% interest rate?

+2

Answers (1)

Know the Answer?

Clara Meyers · Answer 1

David invested $1000. Let's solve for the amount of money to grow to the 18 months at 5.5% interest rate?

Let's assume that this 5.5% interest is per month.

=> 1 000 dollars * 0.055 = 55 dollars per month

=> 55 * 18 months = 990 dollars in 18 months.