SOLUTION: If $14000 is invested at a rate of 3.4% per year compounded weekly, find the value of the investment at each given time and found to the nearest cent. Use either A=P(1+r/n)^nt or A
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-> SOLUTION: If $14000 is invested at a rate of 3.4% per year compounded weekly, find the value of the investment at each given time and found to the nearest cent. Use either A=P(1+r/n)^nt or A
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Question 1088195: If $14000 is invested at a rate of 3.4% per year compounded weekly, find the value of the investment at each given time and found to the nearest cent. Use either A=P(1+r/n)^nt or A=Pe^rt.
(a) after 1 month, A= $____.
(b) after 18 months, A=$_____. (c) after 34 years, A=$_____. Answer by EMStelley(208) (Show Source):
You can put this solution on YOUR website! Part a) is after 1 month. So P is 14000, r is 0.034, n = 12, and t = 1/12 (one month is 1/12 of a year and t is measured in years).
Part b) changes t = 1.5
And part c changes t = 34
