Consider the following function:     A(P,r,n,t)=P(1+rn)nt     where the variables have the following meaning: A = amount accumulated  P = principal  r = interest rate n = compoundings per period t = number of periods   Find the value of the function when P=500,r=7%,n=12, and t=6. (Round your answer to the nearest whole number.)

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Consider the following function:

 

 

A(P,r,n,t)=P(1+rn)nt

 

 

where the variables have the following meaning:

A = amount accumulated 

P = principal 

r = interest rate

n = compoundings per period

t = number of periods

 

Find the value of the function when P=500,r=7%,n=12, and t=6.

(Round your answer to the nearest whole number.)

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