Q:
What amount must you invest now at 4% compounded monthly to accumulate $10,000 after 3 year
Answer & Explanation
Answer: A) 8695
Explanation: Given: j = 4%, m= 12, FV = $10,000, Term= 3.5 years
Then n =m *Term 12(3.5) 42
View Answer
Report Error
Discuss