Since 2007, a particular fund returned 13.3% compounded monthly. how much would a $4000 investment in this fund have been worth after 2 years? (round your answer to the nearest cent.)

$5,211.30

Step-by-step explanation:

We have to calculate compound interest with the formula

Where A =  Amount after maturity

           P = Principal amount ( $4,000)

           r = Rate of interest 13.3% in decimal ( 0.133)

           n = number of compounding period, monthly ( 12 )

            t = Time in years ( 2 )

Now we put the values in the formula

A =  $5,211.30

After 2 years investment would be $5,211.30.

a

step-by-step explanation: