Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What will $142,000 grow to be in 6 years if it is invested today in an account with a quoted annual interest rate of 14%

What will $142,000 grow to be in 6 years if it is invested today in an account with a quoted annual interest rate of 14% with monthly compounding of interest? PLEASE USE FUNCTION ON TI-84 CALCULATOR TO HELP. Thank you. The answer is 327,328.69 but I am not sure how I got the answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions