Question

Carlos deposited $7,924 into a savings account 30 years ago. The account has an interest rate of 4.6% and the balance is currently $30,541.83. How often does the interest compound?

Answer 1

Plug it into the formula. deposit always equals P! A always equals account balance. R always is the intrest rate. t is always the the years the years they give you.try and set it up.

Answer 2

I knew that much.