Use the compound interest formula, A(t)=P(1+rn)nt. After a certain number of years, the value of an investment account is represented by the expression 10,350(1+0.0412)120. What is the value of the account?

Use the compound interest formula, A(t)=P(1+rn)nt. After a certain number of years, the value of an investment account is represented by the expression 10,350(1+0.0412)120. What is the value of the account?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter4: Exponential And Logarithmic Functions

Section4.1: Exponential Functions

Problem 4E

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Use the compound interest formula, A(t)=P(1+rn)nt.

After a certain number of years, the value of an investment account is represented by the expression 10,350(1+0.0412)120. What is the value of the account?

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