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Write a formula that describes the value of an initial investment of $1200, growing at an interest rate of 4%, compounded monthly

Write a formula that describes the value of an initial investment of $1200, growing at an interest rate of 4%, compounded monthly
asked 9.9k views
2 votes
Write a formula that describes the value of an initial investment of $1200, growing at an interest rate of 4%, compounded monthly

asked
User John Rayner
by
7.6k points

1 Answer

3 votes

Answer:

f(x)=1200(1.04)^n

Explanation:

answered
User Jaysen
by
8.5k points
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