Jasonn2721 Jasonn2721

19-11-2021
Business

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If you invest $15,000 at 3.1% annual interest compounded monthly, how much will be in the account after 16 years

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hunchomar314 hunchomar314

19-11-2021

Answer:

The final balance would be $24,616.34 at the end of 16 years of monthly compounded interest

Explanation:

The total compound interest would be $9,616.34 after 16 years.

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