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Select all that apply Amy deposits $40,000 in a bank. The value of Amy's deposit is $1,000,000 after 20 years. The steps are shown below
Select all that apply Amy deposits $40,000 in a bank. The value of Amy's deposit is $1,000,000 after 20 years. The steps are shown below to determine the rate of interest that Amy can expect to earn from the bank. Determine A, B, and C in the steps below. Step 1: Use the formula P = F(A) Step 2: Substitute the values in the formula to arrive at the equation VB = (1 + 1). Step 3: The rate at which Amy can expect to earn her interest is C%. A = (1+1) A = (1+1) B=0.04 B = 25 C = 17.46 C = 37.97
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