SOLUTION: for the following exercise, use the compound interest formula,
A(t) = P(1+(r/n))^nt where money is measured in dollars.
An account is opened with an initial deposit of $7,500
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Question 1059795: for the following exercise, use the compound interest formula,
A(t) = P(1+(r/n))^nt where money is measured in dollars.
An account is opened with an initial deposit of $7,500 and earns 3.9% interest compounded semi-annually. What will the account be worth in 25 years? (Round your answer to the nearest cent.)
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
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The account will be worth $19.698.03
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check:
Take the log of both sides
OK
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