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2 votes
Substitute the information into the compound interest

formula:

Principal: 30
Annual interest rate: 12%
Periods per year: 6
A = P(1+r/n)nt

User JP Alioto
by
8.3k points

1 Answer

2 votes

Answer:

Substituting the given information into the compound interest formula:

Principal (P): $30

Annual interest rate (r): 12%

Periods per year (n): 6

A = P(1 + r/n)^(n*t)

A = 30(1 + 0.12/6)^(6*t)

Explanation:

Substituting the given information into the compound interest formula:

Principal (P): $30

Annual interest rate (r): 12%

Periods per year (n): 6

A = P(1 + r/n)^(n*t)

A = 30(1 + 0.12/6)^(6*t)

User Kristie
by
7.5k points

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