imoj1araannamaish imoj1araannamaish
  • 11-12-2016
  • Mathematics
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Suppose that $14,000 is invested in a savings account paying 5.2% interest per year.
(a) Write the formula for the amount A in the account after t years if interest is compounded monthly.

Respuesta :

simono860s
simono860s simono860s
  • 11-12-2016
A=P(1+R%)^n
P=$14000, R=5.2%, t=t/12
hence
A=14000(1+5.2/100)^(t/12)
   =14000(1.052)^t/12
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