How much would $100 invested at 6% interest compounded monthly be worth after 20 years? Round your answer to the nearest cent. A. $220.00 B. $320.71 C. $110.49 D. $331.02

Question

asked Sep 12, 2018 221k views

1 Answer

Dankilev · Answer 1 · 2018-09-16T22:10:25+0000

Total = 100.00 * (1 + .06/12)^12*20
Total = 100.00 * (1.005)^240
Total = 100.00 * 3.3102044758
Total = 331.02
Answer is D