you put $5,000 in an account that is composed quarterly. The annual rate, r, is 4%. How much will be in the account after 10 years? Use the formula A=P (1+ r/n)^nt

Question

you put $5,000 in an account that is composed quarterly. The  annual rate, r, is 4%. How much will be in the account after 10 years? Use the formula A=P (1+ r/n)^nt

anonymous · Answer

$$A=P \left( 1+\frac{ r }{ n } \right)^{nt}$$

wolfe8 · Answer

I think you are given r, not sure what n is. I think t is the time, which is 10. I think. Sounds like economics to me.

anonymous · Answer

Answers:
$5,523.11
$5,747.37
$7,444.32
$24,005.10

luigi0210 · Answer

P=principle 
R=rate
n- number of times compounded

luigi0210 · Answer

A=Total amount

anonymous · Answer

Ah. Thank you. I think I can figure it out now.

luigi0210 · Answer

No Prob