Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. algebra
  3. for compound interest accounts, the amount a accum

For compound interest accounts, the amount A accumulated or due depends on the principle P,...

80.2K

Verified Solution

Question

Algebra

image

For compound interest accounts, the amount A accumulated or due depends on the principle P, interest rate r, number of compounding per year n, and the time t in years according to the formula A = P(1 + 2) ^n t. Find r given A = $90,000, P = $60,000, and t = 15 years with interest compounded monthly.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

7 Evaluate sin 8 Hint Draw a right triangle arccos

Calculus
Q

Dau venia NASA Grade 1660 Annual mean temperature anomaly 5 year average mean temperature anomaly...

Basic Math
Q

Use the piecewise function below to evaluate for each x, which is the number inside...

Basic Math
Q

8 Find the function f x y 2x 2y 2xy x y classify the critical...

Calculus
Q

Critique the analysis of how Chick-fil-a might make investment decisions, and provide alternate methods...

Accounting
Q

Danica Patrick, Inc. includes the following account among its trade receivables. Hopkins Co. 1/1 Balance...

Accounting
Q

Accounting Rate of Return Each of the following scenarios is independent. Assume that all cash...

Accounting
Q

Cashflow Assignment - Redard Corporation Comparative Balance Sheets June 30,2013 and June 302014...

Accounting
Q

Jose Mercado, a sole proprietor, entered into partnership with another individual. The partnership would use...

Accounting
Q

Suppose Intel stock has a beta of 0.89 , whereas Boeing stock has a beta...

Finance
Q

The Morgan Corporation has two different bonds currently outstanding. Bond M has a face value...

Finance
Q

Consider a company described by the following market data: the value of the companys assets...

Finance