Future Value: Find the value using the formula below: P(1+ r A=P 1+- n Int 1. At age 10, a person deposits $390 in a savings account paying 2% interest compounded quarterly. How much money will be in the account 65 years later, when he is 75 years old? Identify P, r, t, n and A. Solve for the unknown. Round answer to nearest cent. P= A Desk 1 Φ $ % A 5 6 hp U 8 P= t= n= Future Value Desk 1 A A
Future Value: Find the value using the formula below: P(1+ r A=P 1+- n Int 1. At age 10, a person deposits $390 in a savings account paying 2% interest compounded quarterly. How much money will be in the account 65 years later, when he is 75 years old? Identify P, r, t, n and A. Solve for the unknown. Round answer to nearest cent. P= A Desk 1 Φ $ % A 5 6 hp U 8 P= t= n= Future Value Desk 1 A A
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Future Value: Find the value using the formula below:
P(1+
r
A=P 1+-
n
Int
1. At age 10, a person deposits $390 in a savings account paying 2%
interest compounded quarterly. How much money will be in the account
65 years later, when he is 75 years old?
Identify P, r, t, n and A. Solve for the unknown. Round answer to
nearest cent.
P=
A
Desk 1
Φ
$
%
A
5
6
hp
U
8
Transcribed Image Text:P=
t=
n=
Future Value
Desk 1
A
A
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