The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal Compounded Rate Time $7000 4% annually 3 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A Click the icon to view some finance formulas. Formulas A. The amount of money in the account after 3 years is $ (Round to the nearest hundredth as needed.) In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. A -1 nt 14 Help me solve this View an example Ge Print Done ck answer

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 13CST
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Related questions
Question
Principal
The principal represents an amount of money deposited in a savings account subject to
compound interest at the given rate.
Rate
Compounded
Time
$7000
4%
annually
3 years
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
ege stuff
- X
i Click the icon to view some finance formulas.
Formulas
In the provided formulas, Ais the balance in the account after t years, P is the
principal investment, r is the annual interest rate in decimal form, n is the number
of compounding periods per year, and Y is the investment's effective annual yield
in decimal form.
A. The amount of money in the account after 3 years is $
(Round to the nearest hundredth as needed.)
A
P=
A=Pet
-1
Help me solve this
View an example
Ge
ck answer
Print
Done
19
MacBook AiG
esc
吕0 F3
888 F4
II ER
#3
*
2
3
7
W
* CO
LL
Transcribed Image Text:Principal The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Rate Compounded Time $7000 4% annually 3 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. ege stuff - X i Click the icon to view some finance formulas. Formulas In the provided formulas, Ais the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. A. The amount of money in the account after 3 years is $ (Round to the nearest hundredth as needed.) A P= A=Pet -1 Help me solve this View an example Ge ck answer Print Done 19 MacBook AiG esc 吕0 F3 888 F4 II ER #3 * 2 3 7 W * CO LL
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