SOLUTION: I have the answer, but I cannot figure out the steps of how to get the answer. this is the answer: A= P(1+4)&#8319; A= 10,000(1+0.06)20 = 10,000(1.06)20 &#8776; 32,071.25

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Question 1066536: I have the answer, but I cannot figure out the steps of how to get the answer.
this is the answer:
A= P(1+4)ⁿ
A= 10,000(1+0.06)20
= 10,000(1.06)20
≈ 32,071.25
I just cannot figure out the steps to get the answer, I have tried every possible way, I can think of it, and cannot get it.
I would appreciate your help. I hope I hear from you soon.
Thank you,
Found 2 solutions by ikleyn, MathTherapy:
Answer by ikleyn(52781) (Show Source):
You can put this solution on YOUR website!
.

Years Money 10000.00 1 10600.00 2 11236.00 3 11910.16 4 12624.77 5 13382.26 6 14185.19 7 15036.30 8 15938.48 9 16894.79 10 17908.48 11 18982.99 12 20121.96 13 21329.28 14 22609.04 15 23965.58 16 25403.52 17 26927.73 18 28543.39 19 30256.00 20 32071.35

Thanks to MS Windows Excel in my computer.

Answer by MathTherapy(10552) (Show Source):
You can put this solution on YOUR website!

I have the answer, but I cannot figure out the steps of how to get the answer.
this is the answer:
A= P(1+4)ⁿ
A= 10,000(1+0.06)20
= 10,000(1.06)20
≈ 32,071.25
I just cannot figure out the steps to get the answer, I have tried every possible way, I can think of it, and cannot get it.
I would appreciate your help. I hope I hear from you soon.
Thank you,

Should be:

SOLUTION: I have the answer, but I cannot figure out the steps of how to get the answer. this is the answer: A= P(1+4)&#8319; A= 10,000(1+0.06)20 = 10,000(1.06)20 &#8776; 32,071.25

SOLUTION: I have the answer, but I cannot figure out the steps of how to get the answer. this is the answer: A= P(1+4)ⁿ A= 10,000(1+0.06)20 = 10,000(1.06)20 ≈ 32,071.25