Question

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Matthew invested $200 at an interest
rate of 5%, compounded monthly.
How much is his investment worth
after 6 years?

Answer 1

• $10

Explanation:

Given equation:

• 5% of $200

We simplify the equation to get the answer.

• 200 * 0.05
• = 10.

After 6 years, The investment worth will be $10.