Question

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 $_________

Name: use the compound interest formula atp1rnnt after a certain number of years the value of an investment account is represented by the expression 10250100412120 what is the value of the account 14774
Uploaded: 2022-08-11T01:29:23-08:00
Duration: 1 min 30 s
Channel: Kathleen Carty
Description: use the compound interest formula atp1rnnt after a certain number of years the value of an investment account is represented by the expression 10250100412120 what is the value of the account 14774

          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 $_________

Added by Paul H.

Precalculus with Limits

Ron Larson 2nd Edition

Instant Answer

Solved by Expert Kathleen Carty

08/11/2022

Step 1

0412 = 1.0412. Then, we need to raise this value to the power of 120. This can be done using a calculator, and the result is approximately 1.35 x 10^22. Show more…

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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 $_________