Approximately how much money would Manny have if he invested $1,200 at an interest rate of 5% for 7 years compounded monthly (12 times a year)?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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Approximately how much money would Manny have if he invested $1,200 at an interest rate of 5% for 7 years compounded monthly (12 times a year)?

 

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