Question

Investing original $ 2000 @ 12% compounded monthly, how much would you have after 5 years?

Answer 1

$2000 in 5 years, and you can get an 8% interest rate on your savings, compounded monthly. Your calculation would be:

P = 2000 / (1 + 0.08/12)^(12×5)

Answer 2

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✨Answer In The Attachment ✨