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AT4ever
AT4ever AT4ever
  • 08-06-2016
  • Mathematics
Answered

David invested $1000.ppm what would that money grow to the 18 months at 5.5% interest rate?

Verified Answer :

Hagrid
Hagrid Hagrid
  • 09-06-2016

David invested $1000. Let's solve for the amount of money to grow to the 18 months at 5.5% interest rate?
Let's assume that this 5.5% interest is per month.
=> 1 000 dollars 0.055 = 55 dollars per month
=> 55   18 months = 990 dollars in 18 months.

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