The formula for determining interest compounded monthly is A = P(1 + )12t, where A represents the amount invested after t years, P the principal invested, and r the interest rate. Jimmy invests $1,500 at an interest rate of 10% for 4 years, while Jenny invests $1,500 at an interest rate of 5% for 6 years. Determine the amount of return gained by Jimmy and Jenny.

Question

anonymous · Answer

Can someone please show me how to solve this?

anonymous · Answer

just plug in number in your formula 
A_jenny+A_jimmy

anonymous · Answer

P(1 + ? )12t
         ^
you missing something there

anonymous · Answer

A=P (1 + r/12)^12 Use this one instead

anonymous · Answer

start pluging in your numbers