SOLUTION: If bob has $1,147.80 and it is in a savings account for 42 months with an interest rat of 4.4% whats his new total?

Question 699362: If bob has $1,147.80 and it is in a savings account for 42 months with an interest rat of 4.4% whats his new total?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If bob has $1,147.80 and it is in a savings account for 42 months with an interest rat of 4.4% whats his new total?
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A(t) = P(1 + rt)
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A(42/12) = 1147.80(1+0.044*(42/12))
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A(42/12) = $1324.56
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Cheers,
Stan H.
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