SOLUTION: Write a compound interest function to model each situation. Then find the balance after the given number of years. $500 invested at a rate of 2.5% compounded annually; 10 years.

Question 876627: Write a compound interest function to model each situation. Then find the balance after the given number of years. $500 invested at a rate of 2.5% compounded annually; 10 years.
thanks show all work please !!
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi

In General 



A = Accumulated Amount

P= principal = 500

r= annual rate = .025

n= periods per year = 1 (annually)

t= years = 10

 

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