Find the accumulated amount A if the principal P = $120,000 is invested at the interest rate of r = 6% per year for t = years compounded monthly.
A) The accumulated amount is $169,964.44.
B) The accumulated amount is $169,165.05.
C) The accumulated amount is $169,293.20.
D) The accumulated amount is $168,936.08.

Question

Find the accumulated amount A if the principal P = $120,000 is invested at the interest rate of r = 6% per year for t =  years compounded monthly. ​
A) The accumulated amount is $169,964.44. 
B) The accumulated amount is $169,165.05. 
C) The accumulated amount is $169,293.20. 
D) The accumulated amount is $168,936.08.

Quizplus · Accepted Answer

The Answer of Find the accumulated amount A if the principal P = $120,000 is invested at the interest rate of r = 6% per year for t =  years compounded monthly. ​
A) The accumulated amount is $169,964.44. 
B) The accumulated amount is $169,165.05. 
C) The accumulated amount is $169,293.20. 
D) The accumulated amount is $168,936.08.

Find the Accumulated Amount a If the Principal P =