A=P(1+(r/n))^(t*n)
A = amount at end
P = Principal
r = annual interest rate (convert to decimal for formula)
t = # of years
n = # of times compounded per year
^ is the sign for exponent
Thank you!
1000(1+0.03/2)2*8
A) $1000 invested at 3%/a compounded semiannually for 8 years
B) $5500 invested at 6%/a compounded monthly for 42 months
C) $1000 borrowed at 5%/a compounded quarterly for 5.5 years
How do we find the answer
