Calculate, to the Nearest Cent, the Future Value of an Investment

question 45

Short Answer

Calculate, to the nearest cent, the future value of an investment of $12,000 at 0.3% per year, compounded monthly, after 8 years.
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$ __________

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Definitions:

Recognition

The process of identifying something previously seen, known, or experienced, often used in the context of memory recall.

Relearning

The process by which one regains knowledge or skills that were previously learned but then forgotten.

Nonsense Syllables

Sequences of letters that do not follow usual language patterns and have no meaning, often used in memory and learning experiments.

Ebbinghaus

A pioneer in the study of memory, known for his discovery of the forgetting curve and the spacing effect.