Question

After a certain number of years, the value of an investment account is represented by the equation A(t)=10,250(1+r0.4/12)^120 What is the value of the account?

Answer 1

The equation given is A(t) = 10,250(1 + r 0.04/12)^120. To solve for the value of the account, we need to calculate the right side of the equation. First, we need to calculate the exponent of 1+r 0.04/12. This is equal to 120, so the exponent is 120. Next, we need to multiply 10,250 by the exponent of 1+r 0.04/12. This will give us the value of the account. The answer is 1,895,167.50.