how to do this problem 9000(1+0.025/12)12(6)
9000(1+ .002083333)^72 =
9000 X 1.1616529720 =$10,454.88
+118667 Hi Solveit,
Guest and I recognise this problem immediately as a compound interest problem.
If $9000 is invested for 6 years at 2.5% pa compounded monthly, this is how much it will grow to :)
how to do this problem 9000(1+0.025/12)12(6)
9000*(1+0.025/12)^[12*(6)]
9000*(1+0.025/12)^(12*6) = 10454.8767481010160618
