For the following exercises, use the compound interest formula, A(t) = P(1+)". 28. After a certain number of years, the value of an investment account is represented by the equation A = 10, 250(1+ 04) 120 What is the value of the account?
For the following exercises, use the compound interest formula, A(t) = P(1+)". 28. After a certain number of years, the value of an investment account is represented by the equation A = 10, 250(1+ 04) 120 What is the value of the account?
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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Transcribed Image Text:For the following exercises, use the compound interest formula, A(t) =
P(1 + )".
28. After a certain number of years, the value of an investment account is represented by the equation
120
A = 10, 250(1 + 004). What is the value of the account?
12
31. An account is opened with an initial deposit of $6,500 and earns 3.6% interest compounded semi-annually. What will the
account be worth in 20 years?
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