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If $15,000 is invested at 12% interest compounded monthly, find the interest earned in 12 years.​

If $15,000 is invested at 12% interest compounded monthly, find the interest earned in 12 years.​
asked 171k views
14 votes
If $15,000 is invested at 12% interest compounded monthly, find the interest earned in 12 years.​

asked
User Nedinator
by
7.6k points

2 Answers

13 votes

Answer:

62859.23

Explanation:

our equation is as follows


PV(1+(i)/(n))^(nt))\\\\15000(1+(.12)/(12))^(12*12)\\15000(1+.01)^(144)\\\\62859.23

answered
User Fooman
by
8.6k points
2 votes

Answer:

A

Explanation:

It’s a

answered
User Rafa Romero
by
8.5k points
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