Question

How much money would an investment of 300 at rate of 12 percent compound monthly be after 4 years

Answer 1

data given

principal 300

rate12%

time 4 years

Explanation:

from

A=P[1+r/100]^n

where

A is amount

p is principal

r is rate

n is interest period

now,

A= 300[1+12/(100×12)]^(12×4)

A=300×1.01^48

A=483.67

: .would be 483.67