lmzachorov
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How much money would you have to deposit today at 9% annual interest compounded monthly to have $12000 in the account after six years?

Respuesta :

libertyodh24

Answer:

P = $ 7007.08 option C

Step-by-step explanation:

given: r = 9% pa compounded monthly , n = 6 , Amount A = $ 12000

to find : P

formula used : A = P ( 1+r/1200)⁷²

P = A / (1 + r/1200)⁷²

P = (12000) / (1 + 9/1200)⁷²

P = 12000 / ( 1 + 3/400)⁷²

P = 12000 / ( 403/400)⁷²

P = 12000 / (1.0075)⁷²

P = 12000 / (1.71255)

pls mark brainliest

jadeuhlynn

Answer:

$18480

Step-by-step explanation:

First you find what 9% of 12,000 is. You get 1080. Then you multiply that number by 6 because it has been 6 years. Then you get 6480. You then add 6480 to 12000 and get 18480.

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