Mathematics 45 Online
OpenStudy (anonymous):

Find the amount of money in an account after 12 years if \$4200 is deposited at 7% annual interest compounded annually.

OpenStudy (anonymous):

earn a quick medal...anyone?

OpenStudy (a_clan):

A(t) = A0 [1 + r/n]^ (nt)

OpenStudy (anonymous):

ok what do i do with this?

OpenStudy (a_clan):

Ao= 4200(principal amount) n=number of times the interest is compounded per year = 1 in this problem r= annual rate of interest= 7 t=12 yrs A(t) = final amount (answer)

OpenStudy (anonymous):

ok thx

OpenStudy (anonymous):

1(12) = 4200[+7/1]^(1*12) like this?

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