SOLUTION: given the fomula: A=P(1+r/n)^n*t find the amount of money accumulated if you invested $25,000 at 4.3% interest for 8 years compounded monthly

SOLUTION: given the fomula: A=P(1+r/n)^n*t find the amount of money accumulated if you invested $25,000 at 4.3% interest for 8 years compounded monthly

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Question 344999: given the fomula: A=P(1+r/n)^n*t
find the amount of money accumulated if you invested $25,000 at 4.3% interest for 8 years compounded monthly
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
A=P(1+r/n)^n*t
P=25000
n=12
r=4.3% = 0.043
t=8
...
A=25000(1+0.043/12)^12*8
A= $ 35,242.78
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