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27 December, 08:19

How much would $120 invested at 86% interest compounded monthly to be worth after 21 years round to the nearest cent

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  1. 27 December, 08:34
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    The formula is

    A=p (1+r/k) ^kt

    A future value?

    P present value 120

    R interest rate 0.86

    K compounded monthly 12

    T time 21 year

    A=120 * (1+0.86:12) ^ (12*21)

    A=4,510,568,953.1372
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