Question

how much would $150 invested at 8% interest compounded anually be worth after 13 years? A(t)=P(1+r/n)^

Answer 1

`\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+(r)/(n)\right)^(nt) \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to &\$150\\ r=rate\to 8\%\to (8)/(100)\to &0.08\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\to &1\\ t=years\to &13 \end{cases} \\\\\\ A=150\left(1+(0.08)/(1)\right)^(1\cdot 13)\implies A=150(1.08)^(13)\implies A\approx 407.9435589`