Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.) P $12,000, r 6%, t = 10, compounded quarterly A = $ 14781 Need Help? Watch It

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 52E: Investment problem If Landon invests 3000 in a 6-year certificate of deposit at the annual rate of...
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Find the accumulated amount A, if the principal P is invested at an interest rate ofr per year for t years. (Round your
answer to the nearest cent.)
P = $12,000, r = 6%, t = 10, compounded quarterly
A = $ 14781
Need Help?
Watch It
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Transcribed Image Text:Find the accumulated amount A, if the principal P is invested at an interest rate ofr per year for t years. (Round your answer to the nearest cent.) P = $12,000, r = 6%, t = 10, compounded quarterly A = $ 14781 Need Help? Watch It Additional Materials
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