After a certain number of years, the value of an investment account is represented by the equation ????=10,250(1+0.0412)120. What is the value of the account?
Added by Daja L.
Step 1
The equation is: V = 10,250 * (1 + 0.0412)^120 Now, let's calculate the value inside the parentheses: 1 + 0.0412 = 1.0412 Show more…
Show all steps
Close
Your feedback will help us improve your experience
Allison Knapp and 65 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Using the compound interest formula, 𝐴(𝑡)=𝑃(1+𝑟𝑛)^𝑛𝑡 After a certain number of years, the value of an investment account is represented by the equation 𝐴=10,250(1+0.0412)120. What is the value of the account?
Jill T.
Use the compound interest formula, A(t)=P(1+rn)nt. After a certain number of years, the value of an investment account is represented by the expression 10,250(1+0.0412)120. What is the value of the account? Round your answer to two decimal places. The value of the account is $_________
Kathleen C.
After a certain number of years, the value of an investment account is represented by the expression 10,250 1 + 0.03 2 20 . How many years had the account been accumulating interest?
Teresa F.
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD