If $240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years?

$842.13.

Step-by-step explanation:

We have been given that $240 is invested at an interest rate of 9% per year and is compounded monthly. We are asked to find the value of investment after 14 years.

We will use compound interest formula to solve our given problem.

, where,

A = Final amount after T years,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year,

T = Time in years.

Therefore, the investment will be worth $842.13 in 14 years.

the answer is c

step-by-step explanation:

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