James invested $34,600 at 19% to be compounded monthly. What will be the value of James's investment in 3 years? Round your answer to the nearest cent, if necessary. Note: 365 days in a year and 30 days in a month

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 65SE: Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount...
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James invested $34,600 at 19% to be compounded monthly. What will be the value of James's investment in 3 years? Round your answer to the nearest cent, if necessary. Note: 365 days in a year and 30 days in a month.

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