$20 000 is invested in a term deposit at 5.4% p.a. with monthly rests. What will be the value of this
investment after 3 years?
I will assume that "with monthly rests" means
compounded monthly
(never heard that it expressed that way)
i = .054/12 = .0045
amount = 20000(1.0045)^36 = 23508.66