Question: cannot use excel, please provide a formula to use :) Suppose you invest $1,300 today in an account that earns a nominal annual rate (inom)

cannot use excel, please provide a formula to use :)

Suppose you invest $1,300 today in an account that earns a nominal annual rate (inom) of 16 percent, with interest compounded monthly. How much money will you have after 11 years? Selected Answer: a. $7,468.80 Answers: a. $7,468.80 FV = PV * (1+r)^ b. S16,588.00 C. $6,652.44 d. $1,503.90 e. $419,177,468,231.82 132 1300*(1 +133)

cempounded monthly Hor puch money wil you have after it year? selected answer. Answers: S2+408.80 a. 57,468.80 b. $16,588.00 fV=P(1+r)01300(1+1.33)132 c. 56,652.44 d. $1,503.90 1300(1+1.33)132 e. $419,177,468,231,82

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