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Use the appropriate compound interest formula to compute the balance in the account after the stated period of time ​$9 comma 0009,000 is invested for 1414 years with an APR of 66​% and monthly compounding. The balance in the account after 1414 years is ​$nothing. ​(Round to the nearest cent as​ needed.)

Guest Apr 6, 2017
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FV = PV [1 + R]^N

FV = 9,000 [1 + 0.06/12]^(14*12)

FV = 9,000 [1.005]^168

FV = 9,000 x 2.31152383......

FV =$20,803.71 - Balance in the account after 14 years.

Guest Apr 6, 2017

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