Ask your own question, for FREE!
Mathematics 19 Online
OpenStudy (anonymous):

A=6,000(1+0.14/12)^(12)(2)

OpenStudy (zzr0ck3r):

and?

OpenStudy (anonymous):

and?

OpenStudy (ranga):

A little bit of reverse engineering. Let me guess the original question: $6,000 is invested in an account that has an annual interest rate of 14% compounded monthly. What will be the amount in the account after 2 years? If that is the question then you have the numbers correctly plugged in. All you need to do is use a calculator to compute A.

OpenStudy (anonymous):

^ Woah :)

OpenStudy (whpalmer4):

I think that's correct reverse engineering, but it should be written A=6000(1+0.14/12)^(12*2) and entered that way if you have a calculator that understands the order of operations. exponentiation happens before multiplication.

OpenStudy (ranga):

Yes, whpalmer4.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!