OpenStax, Algebra and Trigonometry 2e §6.1 Exponential Functions · Exercise 37 · Algebra · Exponentials & logarithms

Exponential Functions · Exercise 37

Use the compound interest formula, $A (t) = P (1 + \frac{r}{n})^{n t} .$

After a certain number of years, the value of an investment account is represented by the equation $A = 10, 250 (1 + \frac{0.04}{12})^{120} .$ What is the value of the account?

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OpenStax, Algebra and Trigonometry 2e · §6.1 Exponential Functions · Exercise 37

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