SOLUTION: Hi there so I am having a problem with an exponential equation where we typically use the formula A=P(1+R/n)^nt. I understand the equation and how to find A, and I also know how t

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Hi there so I am having a problem with an exponential equation where we typically use the formula A=P(1+R/n)^nt. I understand the equation and how to find A, and I also know how t      Log On

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Question 870804: Hi there so I am having a problem with an exponential equation where we typically use the formula A=P(1+R/n)^nt. I understand the equation and how to find A, and I also know how to find t with different information. What I am confused about is how do you calculate a formula when there is an annual percentage fee for an account?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
annual percentage rate
%28A%2FP%29%5E%281%2Ft%29+=+%281+%2B+R%29%5E%28t%281%2Ft%29%29
%28A%2FP%29%5E%281%2Ft%29+-+1+=+R