Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the total amount owed
P is the amount of money borrowed
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Answer:

The balance is $256
Step-by-step explanation:
Given


Required
Determine the balance after 20 visits
Represent the balance with b
Represent the visitation with v
The relationship between the given parameters is:

This gives:


Make b the subject

To get the actual balance after 20 visitation;
Substitute 20 for v



Hence:
<em>The balance is $256</em>