Question
Consider the following function: A(P,r,n,t)=P(1+r/n)^nt where the variables have the following meaning: A= amount accumulated P= principal r= interest rate n= compoundings per period t=
Consider the following function:
A(P,r,n,t)=P(1+r/n)^nt
where the variables have the following meaning:
A= amount accumulated
P= principal
r= interest rate
n= compoundings per period
t= number of periods
Find the value of the function whenP=500, r=8%, n=12, andt=4
.
(Round your answer to the nearest whole number.) ?
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College Algebra Graphs and Models
Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna
5th edition
321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405
