An investment of $1800 earns 6% annual interest, compounded

Last updated: 7/20/2022

An investment of $1800 earns 6% annual interest, compounded monthly. What is an appropriate unit of time (such as days, weeks, years)? What is the multiplier that should be used? What is the initial value? What is an exponential equation in the form y = a(b)* that can be used to model the