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Sunfresh Markets made a $13,000.00 investment in a compound interest account paying 8% compounded monthly. What was the value of its investment at the end of 8 months? (CHOSE THE CLOSEST ANSWER)

 

a. 12710.00

b. 13710.00

c. 13860.00

d. 14710.00

e. 24062.00

 Jan 5, 2016

Best Answer 

 #1
avatar+4084 
+10

Dear Guest,

      While your questions are appreciated, you may want to ask fewer of them so that we have more time to answer all of them in detail. Assuming the last few questions are yours:)

 Jan 5, 2016
 #1
avatar+4084 
+10
Best Answer

Dear Guest,

      While your questions are appreciated, you may want to ask fewer of them so that we have more time to answer all of them in detail. Assuming the last few questions are yours:)

Coldplay Jan 5, 2016
 #2
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The answer is: b

 Jan 5, 2016
 #3
avatar+4084 
+5

Try to explain in more detail, so that if they didn't already know the answer they can learn. :)

 Jan 5, 2016
 #4
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0

LET THEM TRY AND SEE IF THEY CAN GET THE SAME ANSWER!!!!.

 Jan 5, 2016
 #5
avatar+4084 
+5

 :)You win, lol!

 Jan 5, 2016
 #6
avatar+118673 
0

Yea, I don't think that the answer is B  ???

 Jan 5, 2016
 #7
avatar+4084 
+5

I'm not sure, I don't know how to do it. I was hoping guest would explain so I could learn, Idk what the compound interest  is. :)

 Jan 5, 2016
edited by Coldplay  Jan 5, 2016
edited by Coldplay  Jan 5, 2016
 #8
avatar+118673 
+5

I think guest should take his/her multiple, multiple choice questions and go away.

 

Afterall, he/she could guess every one of them and still get approximately 20% of them correct.

(since there are 5 answers each)

 Jan 5, 2016
edited by Melody  Jan 5, 2016
 #9
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+5

Try it with your famous formula: FV=PV(1+.08/12)^8=13,000(1.0066666666667)^8=13,000 X 1.05459=$13,709.73. ARE YOU HAPPY NOW, QUEEN BEE!!!!!.

 Jan 5, 2016
 #10
avatar+4084 
+5

ROFL! I am dying! :))))))

 Jan 5, 2016

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