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19 August, 14:57

How much would $200 invested at 4% interest compounded monthly be worth after 8 years

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  1. 19 August, 17:44
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    Total = Principal * (1 + (rate/12)) ^12 * 8

    Total = 200 * (1 + (.04/12)) ^ 96

    Total = 200 * (1.0033333333) ^96

    Total = 200 * 1.3763951148

    Total = 275.28
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