you have 9000 to deposit, at a 12% discount per year compounded monthly, how much will your investment be worth in 20 years
+118723 It would not be a discount it would be interest.!!!
PV=9000
n=20*12=240 that is how many months
r=0.12/12 = 0.01 that is the monthly interest rate
FV = 9000(1+0.01)^240
$${\mathtt{9\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.01}}\right)}^{{\mathtt{240}}} = {\mathtt{98\,032.982\: \!884\: \!862\: \!404\: \!027}}$$
It will grow to $98,032.98
+118723 It would not be a discount it would be interest.!!!
PV=9000
n=20*12=240 that is how many months
r=0.12/12 = 0.01 that is the monthly interest rate
FV = 9000(1+0.01)^240
$${\mathtt{9\,000}}{\mathtt{\,\times\,}}{\left({\mathtt{1}}{\mathtt{\,\small\textbf+\,}}{\mathtt{0.01}}\right)}^{{\mathtt{240}}} = {\mathtt{98\,032.982\: \!884\: \!862\: \!404\: \!027}}$$
It will grow to $98,032.98
