Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $12,000 invested at an APR of 4.2% for 11 years.
Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $12,000 invested at an APR of 4.2% for 11 years.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually.
$12,000 invested at an APR of 4.2% for 11 years.
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