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15 June, 20:52

If $11,100 is invested at 3.1% interest compounded monthly, how much will the investment be worth in 19 years?

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  1. 15 June, 21:24
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    A=p (1+i/m) ^mn

    A=11,100 * (1+0.031:12) ^ (12*19)

    A=19,989.07
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