How much will 20000 invested today at 3 annually compounded

How much will $20,000 invested today at 3% annually compounded monthly be worth in 5 years ?

How much will $20,000 invested today at 3% annually compounded monthly be worth in 5 years ?

Amount = Pe^rt

Amount = 20,000*e^0.03*5

Amount = 20,000*e^0.15

Amount = 20,000*1.1618 = $23,236.68

How much will $20,000 invested today at 3% annually compounded monthly be worth in 5 years ? How much will $20,000 invested today at 3% annually compounded mon

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