1
answer
0
watching
234
views
6 Nov 2019
If A0 dollars are invested at annual interest rate r, compounded monthly, then after t years the account will have grown to A(t) = A0[1 + r/12]12t. If $10,000 is deposited in an account earning 8% annual interest compounded monthly, how much will it grow to after 14 years? Show transcribed image text
If A0 dollars are invested at annual interest rate r, compounded monthly, then after t years the account will have grown to A(t) = A0[1 + r/12]12t. If $10,000 is deposited in an account earning 8% annual interest compounded monthly, how much will it grow to after 14 years?
Show transcribed image text Reid WolffLv2
25 Jun 2019