SOLUTION: For the following exercise, use the compound interest formula, A(t) = P(1 + r/n)^nt , where money is measured in dollars. After a certain number of years, the value of an inves

Question 1128725: For the following exercise, use the compound interest formula, A(t) = P(1 + r/n)^nt , where money is measured in dollars.
After a certain number of years, the value of an investment account is represented by the expression
10,200(1 + 0.05/12)^ 120.

What was the initial deposit made to the account?
I'm confused as to how to solve the equation. Am I suppose to solve the second equation and then multiply it by 10, 200? or solve it a different way?
Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
It's not an equation unless you see an "=" sign.
You can make an equation from it and say:

Initially, no time has gone by yet, so
and in the formula is zero. Anything
to the zero power is , so I can say:

So, the initial amount is $10,200

Answer by MathTherapy(10549) (Show Source): You can put this solution on YOUR website!
For the following exercise, use the compound interest formula, A(t) = P(1 + r/n)^nt , where money is measured in dollars.
After a certain number of years, the value of an investment account is represented by the expression
10,200(1 + 0.05/12)^ 120.

What was the initial deposit made to the account?
I'm confused as to how to solve the equation. Am I suppose to solve the second equation and then multiply it by 10, 200? or solve it a different way?

There's nothing to solve since you didn't provide an EQUATION.
However, it's obvious that the equation is: , and that your equation should be: .
Still, there's nothing to solve, as the INITIAL DEPOSIT is SIMPLY represented by P, which as you can see, is $10,200.
NOTHING more to this!
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