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Tema [17]
3 years ago
7

Write a compound interest function to model each situation. Then find the balance after the given number of years.

Mathematics
1 answer:
andriy [413]3 years ago
3 0

Answer:

See explanation

Step-by-step explanation:

The standard compound interest formula is A = P(1+\frac{r}{n})^{nt} where:

P is the principal amount

r is the interest rate (typically as a percentage)

t is the time

n is the times compounded per unit of time

So,

1)  A = 50000(1+\frac{0.03}{12})^{(12)(6)} =59847.42

2) A = 43000(1+\frac{0.05}{1})^{(1)(3)} =49777.88

3) A = 65000(1+\frac{0.06}{4})^{(4)(12)} =132826.08

You should check my answers though, I may have mixed up some terms.

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