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?

Question

anonymous · Answer

Do you know the formula for compound interest?

anonymous · Answer

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

anonymous · Answer

Oh i remember now, thank you

anonymous · Answer

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

anonymous · Answer

Great. Do you know how to write the equation?

anonymous · Answer

yes

anonymous · Answer

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