Fight Finance

CoursesTagsRandomAllRecentScores

Below is a screenshot from ASIC’s MoneySmart future value compound interest calculator website.

It shows that $20 invested (or deposited) into a bank account at the end of every month for 10 years at 5% pa compounding monthly will be worth$3,106 at the end of the 10 years, rounded to the nearest dollar.

Which of the following formulas replicates this result?