Ask Question
23 October, 20:01

A retirement account is opened with an initial deposit of $8,500 and earns 8.12% interest compounded monthly. What will the account be worth in 20 years?

+5
Answers (1)
  1. 23 October, 20:07
    0
    8,500 x. 0812 = 690.2

    690.2 x 12 = 8282.4

    8282.4 x 20 = 165, 648

    165,648 + 8,500 = 174,148
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A retirement account is opened with an initial deposit of $8,500 and earns 8.12% interest compounded monthly. What will the account be ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers