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17 June, 21:03

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

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  1. 18 June, 00:02
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    R = 4% = 0.04 compounded monthly = 12 times per year, for t = 8 years

    principle P = 200

    If you put those values in you get a (8) = 200∗ (1 + 0.0412) 12∗ 8
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