Section 5.1b class notes_0

Section 5.1b class notes_0 - n = Number of times interest...

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Section 5.1b Exponential Functions Objective 4: Solving Applications of Exponential Functions Periodic Compound Interest Formula Periodic compound interest can be calculated using the formula 1 nt r A P n = + where A = Total amount after t years P = Principal (original investment) r = Interest rate per year
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Unformatted text preview: n = Number of times interest is compounded per year t = Number of years 5.1.35 How much money will you have in 10 years if you invest \$13,000 at a 3.8% annual rate of interest compounded quarterly? How much will you have if it is compounded monthly?...
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This note was uploaded on 09/08/2011 for the course MATH 1001 taught by Professor Moshe during the Spring '09 term at LSU.

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