Section 5.1b class notes_0

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

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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?...
View Full Document

Ask a homework question - tutors are online