Use the compound interest formula to determine the final value of the following amount. $1800 at 11.2% compounded monthly for 2.5 years What is the final value of the amount? (Simplify your answer. Round to the nearest cent.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
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Problem 7.36EP
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Use the compound interest formula to determine the final value of the following amount.
$1800 at 11.2% compounded monthly for 2.5 years
What is the final value of the amount?
(Simplify your answer. Round to the nearest cent.)
Transcribed Image Text:Use the compound interest formula to determine the final value of the following amount. $1800 at 11.2% compounded monthly for 2.5 years What is the final value of the amount? (Simplify your answer. Round to the nearest cent.)
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