SOLUTION: I can not remember what all the variables in this equation means: "A=p(1+r/n)nt." I know that this is interest, and payment. But when I have word problems, I lose what the variable

Algebra ->  Rational-functions -> SOLUTION: I can not remember what all the variables in this equation means: "A=p(1+r/n)nt." I know that this is interest, and payment. But when I have word problems, I lose what the variable      Log On


   

Question 130921This question is from textbook
: I can not remember what all the variables in this equation means: "A=p(1+r/n)nt." I know that this is interest, and payment. But when I have word problems, I lose what the variables mean and I don't know where to plug which numbers in. Help? This question is from textbook

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A=p(1+r/n)nt
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A(t) is the value of the investment at time "t".
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P is the initial deposit or value of the investment at time t=0.
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r is the annual interest rate
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n is the number of times the money is compounded in a year
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t is the number of years the money is invested.
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Cheers,
Stan H.