Question

A savings account compounds interest, at a rate of 15%, once a year. Elizabeth puts $800 in the account as the principal. How can Elizabeth set up a function to track the amount of money she has?

Answer 1

Do you know the formula for compound interest?

Answer 2

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

Answer 3

Oh i remember now, thank you

Answer 4

F is your future value. r is the annual rate, n is the number of compounds per year, t is the time in years

Answer 5

Great. Do you know how to write the equation?

Answer 6

yes

Answer 7

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