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Aleander invested $16400 over 6 years at 7.4 % p.a invest compounded monthly. calculate value of investment after 4 years ?

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Answer to a math question Aleander invested $16400 over 6 years at 7.4 % p.a invest compounded monthly. calculate value of investment after 4 years ?

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To calculate the value of the investment after 4 years with monthly compounding interest, you can use the formula for compound interest: A=P *(1+(r/n))^nt Where: A is the amount of money accumulated after t years, including interest. P is the principal amount (the initial investment). r is the annual interest rate (in decimal). n is the number of times interest is compounded per year. t is the time the money is invested for, in years. A=1680 *(1+0.074/12)^(12*4) A=22360.95

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