ajwinthrop2 ajwinthrop2

30-07-2018
Mathematics

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find the amount accumulated if 10000 is invested for 5 years at a rate of 5.9% compounded monthly

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Аноним Аноним

30-07-2018

The interest is compounded 5^12 = 60 months

monthly interest = 5.9 / 12 = 0.4917 %

Amount after 5 years = 10,000(1 + 0.4917/100)^60

= 13,465.17

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