Moreno Best
02/17/2024 · Middle School
Mia's invests \( \$ 8000 \) for 5 years at an interest rate of \( 12 \% \) p.a. compounded monthly. a Calculate the interest rate per month. b State the number of interest periods in 5 years. c Determine the amount in Mia's investment account after 5 years.
UpStudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
a. 每月利率为1%。
b. 利息期数为60个月。
c. 5年后投资账户金额约为 \( \$ 14555.20 \)。
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit