SOLUTION: Use the compound interest formulas A = P(1 + r/n)^nt and A = Pe^rt to solve. Find the accumulated value of an investment of $5000 at 5% compounded monthly for 8 years.

Question 1180113: Use the compound interest formulas A = P(1 + r/n)^nt and A = Pe^rt to solve.
Find the accumulated value of an investment of $5000 at 5% compounded monthly for 8 years.
Answer by ikleyn(52797) (Show Source): You can put this solution on YOUR website!
.


Use the formula   A =     and compute the answer.


The second formula is irrelevant in this problem.

-------------

For all details and explanations, look into these two lessons
    - Compounded interest percentage problems
    - Problems on discretely compound accounts
in this site, and learn the subject from there.

After reading these lessons, you will tackle such problems on your own without asking for help from outside.

Also, you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lessons are the part of this online textbook under the topic "Logarithms".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

Happy learning (!)

RELATED QUESTIONS
Use the compound interest formulas A = P(1 + r/n)^nt and A = Pe^rt to solve. Find the... (answered by ewatrrr)

Use the compound interest formulas A=p(1+r/n)^nt and A=pe^rt to solve. Find the... (answered by Boreal)

Use the compound interest formulas A = p( 1+r/n)^nt and A =pe^rt to Solve. Find the... (answered by mathmate)

Use the compound interest formulas A=P(1+r/n)^nt and A=Pe^rt to solve Find the... (answered by jim_thompson5910)

Use the compound interest formulas A = P(1 + r/n)^nt and A = Pe^rt to solve. Find the... (answered by mananth)

Use the compound interest formulas A = P(1 + r/n)^nt and A = Pe^rt to solve. Find the (answered by ikleyn)

use the compound interest formulas A=P(1+r/n)^nt and A=Pe^rt to solve the problem given... (answered by ewatrrr)

Directions: Use the compound interest formulas A=P(1+r/n )^nt and A=pe^rt to solve. (answered by jrfrunner)