The compound interest formula can be rewritten as Find the principal amount that could have been invested on the day you were born at 8.5% annual interest compounded monthly to make you a millionaire on your 21st birthday.
A) $211,070.25
B) $168,856.20
C) $242,730.79
D) $94,981.61
E) $126,642.15

Question

The compound interest formula can be rewritten as  Find the principal amount  that could have been invested on the day you were born at 8.5% annual interest compounded monthly to make you a millionaire on your 21st birthday.
A) $211,070.25 
B) $168,856.20 
C) $242,730.79 
D) $94,981.61 
E) $126,642.15

Quizplus · Accepted Answer

The Answer of The compound interest formula can be rewritten as  Find the principal amount  that could have been invested on the day you were born at 8.5% annual interest compounded monthly to make you a millionaire on your 21st birthday.
A) $211,070.25 
B) $168,856.20 
C) $242,730.79 
D) $94,981.61 
E) $126,642.15

The Compound Interest Formula Can Be Rewritten as Find