You To find the amount A in an account after t years with principal P and an annual interest rate r compounded n times per year, what formul

Question

You To find the amount A in an account after t years with principal P and an annual interest rate r compounded n times per year, what formula would you use

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Jasmine 3 weeks 2022-01-01T19:30:06+00:00 1 Answer 0 views 0

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    2022-01-01T19:31:30+00:00

    Answer:

    The correct answer is A = P × (1 + \frac{r}{100n} ) ^{nt}.

    Step-by-step explanation:

    We need to find the amount of a principal invested in a compound interest.

    Principal to be invested = P.

    Time for the investment = t.

    Annual rate of interest = r %.

    Compounded n times per year.

    Therefore amount (A) is given by the formula:

    A = P × (1 + \frac{r}{100n} ) ^{nt} where symbols have meanings as per the above mentioned parameters.

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