Problema Solution
The amount of money A accrued at the end of n years when a certain amount P is invested at a compound annual rate r is given by If a person invests $160 at 4% interest compounded annually, find the approximate amount obtained at the end of 10 years.
Answer provided by our tutors
The amount of money A accured at the end of N years when a certain amount P is invested at a compound annual rate r is given by A=P(1+r)^n. If a person invests $160 at 4% interest compounded annually,