document.write( "Question 272131: FINANCE SUPPOSE THAT 7900 IS INVESTED AT 4.1% ANNUAL INTEREST RATE, COMPOUNDED MONTHLY. HOW MUCH MONEY WILL BE IN THE ACCOUNT IN A)11 MONTHS? B)18YRS? \n" ); document.write( "
Algebra.Com's Answer #199153 by rfer(16322)![]() ![]() ![]() You can put this solution on YOUR website! A=P(1+r/n)^nt \n" ); document.write( "A=7900(1+.041/12)^11*.92 \n" ); document.write( "A=7900(1.00342)^10.12 \n" ); document.write( "A=7900(1.0352) \n" ); document.write( "A=$8178.00 \n" ); document.write( "---------------- \n" ); document.write( "A=7900(1.00342)^216 \n" ); document.write( "A=7900(2.09) \n" ); document.write( "A=$16,511 \n" ); document.write( " |