Bijo397 Bijo397

02-07-2020
Mathematics

contestada

Peyton received a $5,000 bonus at work, and plans to invest it today. Her investment account will earn a 5% interest rate, compounded monthly. What will her account value be in 20 years?

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joselynhernandez joselynhernandez

02-07-2020

Recieved I hope I could helppp

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chloesartin15 chloesartin15

19-11-2020

Answer:

FV = PV (1 + )nt

PV = $5,000

r = 0.05

n = 12

t = 20

FV = 5,000 (1 + )12 · 20

= 13,563

Step-by-step explanation:

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