Evaluate each function at the given value f(n) = n ^ 4 + 5n ^ 3 + 2n ^ 2 - 5n + 13 at n = - 2
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Answer
Total amount earned after 16 years = $93649
Explanation:The principal, P = $50,000
Interest rate, r = 4% = 4/100
r = 0.04
The time, t = 16 years
Number of times intesrest is compounded per year, n = 1
Total amount is calculated below:
Total amount earned after 16 years = $93649