In the formula A ( t ) = P ( 1 + r n ) n t for compound interest the letters P, r, n , and t stand for __________, __________ __________, and __________, respectively, and A ( t ) stands for __________. So if $100 is invested at an interest rate of 6% compounded quarterly, then the amount after 2 years is __________.
In the formula A ( t ) = P ( 1 + r n ) n t for compound interest the letters P, r, n , and t stand for __________, __________ __________, and __________, respectively, and A ( t ) stands for __________. So if $100 is invested at an interest rate of 6% compounded quarterly, then the amount after 2 years is __________.
Solution Summary: The author evaluates the symbol notation for the formula A(t)=P (1+rn )nd and the amount of the given value.
In the formula
A
(
t
)
=
P
(
1
+
r
n
)
n
t
for compound interest the letters P, r, n, and t stand for __________, __________ __________, and __________, respectively, and A(t) stands for __________. So if $100 is invested at an interest rate of 6% compounded quarterly, then the amount after 2 years is __________.
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