Stacy invests $55,000 into an account at 2.3% interest compounded monthly. Find the total value of the investment after 4 years.

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asked Mar 21, 2024 136k views

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Daniel Dickison · Answer 1 · 2024-03-25T00:46:20+0000

In the formula, A is the amount after interest, P is the principal, r is interest rate in decimals, n is the amount of times the interest is compounded per year, and t is the amount of years.

Stacy invests $55,000 into an account at 2.3% interest compounded monthly. Find the-example-1

Stacy invests $55,000 into an account at 2.3% interest compounded monthly. Find the total value of the investment after 4 years.

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