Mike has $4000 in his IRA. At 6% annual interest compounded monthly, how much will he have at the end of 20 years?
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4000* (1.005)^240
= 13240.82
= 13240.82
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Mike has $4000 in his IRA.
At 6% annual interest compounded monthly,
how much will he have at the end of 20 years?
$13,240.82
At 6% annual interest compounded monthly,
how much will he have at the end of 20 years?
$13,240.82