90.2K
Verified Solution
Link Copied!
n amount of $5000 was invested with an annual interest rate of 5.5% compounded monthly. Answer the following and show all work:
2.a. What is the value of the investment after 20 years?
2.b.How much interest was earned?
2.c. What is the rate of return on the investment?
Answer & Explanation
Solved by verified expert