Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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You have 1 attempt out of 2 remaining.
Use this formula for exponential growth: \( A = P(1 + \frac{r}{n})^{nt} \), where:
- \( A \) is the amount of money accumulated after n years, including interest.
- \( P \) is the principal amount (the initial amount of money).
- \( r \) is the annual interest rate (decimal).
- \( n \) is the number of times that interest is compounded per year.
- \( t \) is the time the money is invested or borrowed for, in years.
### Answer:
\[ \boxed{} \]
**Submit Answer**
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### Exponential Functions - Basic
**Cristobal Infante Chavez**
**Date:** Jun 24, 4:49:23 AM
**Problem:**
\$6700 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the account after 28 years, to the nearest cent?
**Instructions:**
1. Review the problem carefully.
2. Use the appropriate exponential growth formula to find the solution.
3. Enter your answer in the provided answer box.
4. Submit your answer when you are ready.
5. Make sure to round your answer to the nearest cent.
**Helpful Resources:**
- [Watch help video](#)
**Note:**
You have 1 attempt out of 2 remaining.
Use this formula for exponential growth: \( A = P(1 + \frac{r}{n})^{nt} \), where:
- \( A \) is the amount of money accumulated after n years, including interest.
- \( P \) is the principal amount (the initial amount of money).
- \( r \) is the annual interest rate (decimal).
- \( n \) is the number of times that interest is compounded per year.
- \( t \) is the time the money is invested or borrowed for, in years.
### Answer:
\[ \boxed{} \]
**Submit Answer**
**References:**
- Privacy Policy
- Terms of Service
**DeltaMath**
Copyright © 2022 DeltaMath.com. All Rights Reserved.
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