SOLUTION: Find A when P=3000, r=7%, n=12, and t=5

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Question 710554: Find A when P=3000, r=7%, n=12, and t=5
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
Find A when P=3000, r=7%, n=12, and t=5
.
A = P(1 + r/n)^(nt)
A = 3000(1 + .07/12)^(12*5)
A = 3000(1 + .005833333)^60
A = 3000(1.005833333)^60
A = 3000(1.41762526)
A = $4252.88