How much would $120 invested at 6% interest compounded monthly be worth after 21 years? Round your answer to the nearest cent.
A(t)= P(1+r/n)^nt

$421.72

Step-by-step explanation:

Compounded Monthly Interest Rate Formula: A = P(1 + 4/12)^12t

Simply plug in our known variables:

A = 120(1 + 0.06/12)²¹⁽¹²⁾

A = 120(1.005)²⁵²

A = 120(3.51437)

A = 421.724

b

step-by-step explanation:

a difference is the result of subtraction. while each of these expressions has subtraction in it, a difference will be the result when subtraction is the last operation applied in the order of operations for the expression. this means subtraction must be outside of the parenthesis. only b has this.

536

step-by-step explanation: