SOLUTION: The formula A = 𝑃 (1 +𝑟𝑛)𝑛𝑡
is used to determine how much money will be present if
P dollars are invested in an account bearing compound i
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-> SOLUTION: The formula A = 𝑃 (1 +𝑟𝑛)𝑛𝑡
is used to determine how much money will be present if
P dollars are invested in an account bearing compound i
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Question 1080631: The formula A = 𝑃 (1 +𝑟𝑛)𝑛𝑡
is used to determine how much money will be present if
P dollars are invested in an account bearing compound interest n times per year for t
years. r is the interest rate expressed as a decimal. For example, r=0.25 if the interest
rate is 25%. Find the amount of money present after 20 years if $200 is invested into an
account bearing 3.2% interest compounded monthly. Answer by Alan3354(69443) (Show Source):
