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$7,200 is invested in an account earning 4.6% interest (APR), compounded monthly. Write a function showing value of the account after t years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year (AYP), to the nearest hundredth of a percent

$7,200 is invested in an account earning 4.6% interest (APR), compounded monthly. Write-example-1

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6 votes

Answer:

Explanation:

I really don’t know

User Stephen Brickner
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so comounded monthly
y = 7200(1+(0.046/12))^0.046t
User Borisveis
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