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8. Use the​ compound-interest formula to find the account balance​ A, where P is​ principal, r is interest​ rate, n is number of compounding periods per​ year, t is​ time, in​ years, and A is account balance.
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8. Use the​ compound-interest formula to find the account balance​ A, where P is​ principal, r is interest​ rate, n is number of compounding periods per​ year, t is​ time, in​ years, and A is account balance.

8. Use the​ compound-interest formula to find the account balance​ A, where P is​ principal-example-1
User Wernzy
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1 Answer

2 votes

Answer:

Explanation:


P = 56,150(1 + (0.095)/(4))^{ 4(2.5)

≈ $71005

User Alexloehr
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