Question

If John invests the $1,000 he receives today at an interest rate of 4.8% compounded monthly, in one year the
investment will be worth $
When John receives $1,000 a year from now, the $1,000 he invested today will be worth $
$1,000 he receives in the future.
more than the
ools

Answer 1

Answer:

If John invests the $1,000 he receives today at an interest rate of 4.8% compounded monthly. in one year the investment will be worth $ 1,049

When John receives $1,000 a year from now, the $1,000 he invested today will be worth $49 more than the $1,000 he receives in the future.

Step-by-step explanation:

Just answered the question.

Answer 2

The required amount he will receive at the end of year is $1048.

John invests the $1,000 he receives today at an interest rate of 4.8%

What is compound interest?

Compound interest is summed interest through out one year.

john invest $1000 for 1 year for 4.8% interest .
principle amount after 1 year
1000 x 4.8/100
= $ 1048

Thus, The required amount he will receive at the end of year is $1048.

Learn more about compound interest here:
https://brainly.com/question/14295570

#SPJ2