after graduation, emily opens a saving account that offers a 6.25% annual percentage rate. she makes an initial deposit of $7000. a)if the interest is compounded monthly, write a formula for the balance,B, in the account t years since the initial deposit?

after graduation, emily opens a saving account that offers a 6.25% annual percentage rate. she makes an initial deposit of $7000. a)if the interest is compounded monthly, write a formula for the balance,B, in the account t years since the initial deposit?

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter1: Equations, Inequalities, And Mathematical Modeling

Section1.6: Other Types Of Equations

Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...

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after graduation, emily opens a saving account that offers a 6.25% annual percentage rate. she makes an initial deposit of $7000.

a)if the interest is compounded monthly, write a formula for the balance,B, in the account t years since the initial deposit?

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