A Principal of $3000 Is Invested at 5% Interest

question 12

Multiple Choice

A principal of $3000 is invested at 5% interest.Find the amount after 20 years if the interest is compounded monthly. ​

• A)$8137.92
• B)$8135.92
• C)$8139.92
• D)$8136.92
• E)$8138.92

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Definitions:

Demand

The amount of a product or service buyers are prepared and capable of buying at a specific price.

Tax

A mandatory monetary fee or different kind of tax enforced on a taxpayer by a government entity.

Supply

The aggregate supply of a distinct item or service offered to purchasers.

Cloth

A material made from fibers, woven or knitted together, used to make garments and other items.