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

Answer 1

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

Answer 2

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.

Answer 3

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

Answer 4

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

Answer 5

A=Total amount

Answer 6

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

Answer 7

No Prob