SOLUTION: this is my problem P = A((1+r)-n P= 20,000(1+ 0.06)-20 P = 22,000(1.06)-20 this is my question do i divide or multiply here to get my answer

Question 751531: this is my problem
P = A((1+r)-n
P= 20,000(1+ 0.06)-20
P = 22,000(1.06)-20 this is my question do i divide or multiply here
to get my answer
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
this is my problem
P = A((1+r)-n
P= 20,000(1+ 0.06)-20
P = 22,000(1.06)-20
***
The formula is not written correctly for compound interest.
It should be written as follows:
A=P(1+r)^n, P=initial investment, r=interest rate per period, n=number of periods, A=amount after n periods.
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