Respuesta :

Aliwohaish12
A=p(1+i/m)^mn
A=11,100×(1+0.031÷12)^(12×19)
A=19,989.07

Answer:

In 19 years, the investment will be worth $19973.34

Step-by-step explanation:

The compound interest formula is :

[tex]A=P(1+\frac{r}{n})^{nt}[/tex]

p = 11100

r = 3.1% or 0.031

t = 19

n = 12 (compounded monthly)

Now, putting these values in the formula we get;

[tex]A=11100(1+\frac{0.031}{12})^{12*19}[/tex]

=> [tex]A=11100(1.00258)^{228}[/tex]

A = $19973.34