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14358(1+4%) to the power of 1 over 12

 Aug 7, 2017
 #1
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14358(1+4%) to the power of 1 over 12 is:

\(\left(14358\left(1+0.04\right)\right)^{\frac{1}{12}}\)

Answer \(≈2.22763\)

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 Aug 7, 2017
 #2
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Maybe this is what you had in mind:

 

14,358[1 + 0.04/12]^12 =$14,942.97 - This is FV of $14,358 @ 4% comp. monthly for 12 months.

Or maybe this:

14,358[1 + 0.04]^12 =$ 22,987.62 - This is the FV of $14,358 @ 4% comp.annually for 12 years.

Take your pick!!!.

 Aug 7, 2017

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