What is the equation of the following line (4,-3) (0,0)
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The amount of money Camden would have in his account after 12 years is equal to $2,374.3.
<h3>How to calculate compound interest.</h3>To calculate how much money Camden would have in his account after 12 years, we would use the formula for compound interest.
Mathematically, compound interest is given by this formula:
<u>Where:</u>
- A is the balance.
- P is the principal or starting amount.
- R is the interest rate.
- T is the time measured in years.
<u>Given the following data:</u>
Principal = $1400.
Interest rate = 4.5% = 0.045.
Time = 12 year.
Substituting the given parameters into the formula, we have;
A = $2,374.3.
Read more on interest here: brainly.com/question/24341207