Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $140,000, r = 7%, t = 5, compounded monthly ,t%3D

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 58RE
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Find the accumulated amount A if the principal P is invested at the interest
rate of r/year for t years. (Use a 365-day year. Round your answer to the
nearest cent.)
P = $140,000, r = 7%, t = 5, compounded monthly
,t%3D
Transcribed Image Text:Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $140,000, r = 7%, t = 5, compounded monthly ,t%3D
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