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27 March, 20:21

How much would $100 invested at 6% interest compounded monthly be worth after 20 years? Round your answer to the nearest cent. A. $220.00 B. $320.71 C. $110.49 D. $331.02

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  1. 27 March, 20:31
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    Total = 100.00 * (1 +.06/12) ^12*20

    Total = 100.00 * (1.005) ^240

    Total = 100.00 * 3.3102044758

    Total = 331.02

    Answer is D
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