Question
15.Suppose that you invest $2,500 in an account that makes 3% annual interest compounded monthly. Use the formula A = P(1+r)^nt to answer the following
15.Suppose that you invest $2,500 in an account that makes 3% annual interest compounded monthly. Use the formula A = P(1+r)^nt to answer the following questions.a) How much money will be in the account after 6 years?b) How much money will be in the account after 4 months?c) How long will it take for the account to reach a balance of $7,000?
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Precalculus Real Mathematics, Real People
Authors: Ron Larson, Gaylord N Smith
6th Edition
1133714749, 9781133714743
