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13 December, 21:46

After 4 years, what is the total amount of a compound interest investment of $20,000 at 2% interest, compounded monthly?

A) $25,409.78

B) $21,648.64

C) $23,514.81

D) $21,664.30

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Answers (1)
  1. 13 December, 22:20
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    A=P (1+r/n) n*t

    A=20.000 (1+0.02/1) 1*4 A=20.000*1.024 A=20.000*1.082432 A=21.648.64 The answer is B
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