Question

Ethan has deposited $954 in a savings account that earns interest at a rate of 1.4% compounded monthly what will the account balance be in 16 years

Answer 1

\[\large\rm A= P(1+\frac{r}{n})^{n \cdot t}\]
A=amount
P=Initial value (principal )
r=interest rate (as a decimal )
n=the compounded value (monthly so n=12)
t=time
plugin the values solve for A

Answer 2

If this question is answered, please close it~

@Ultrilliam

Answer 3

maybe he/she is still confused. it is okay to leave it open for at least 24 hours.

Answer 4

My bad, Nnesha. <3

Answer 5

its all good.:=))