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A=P(1+(r/n))n*t
A = total amount
P = principal or amount of money deposited,
r = annual interest rate
n = number of times compounded per year
t = time in years
13000=P(1+(6.5/100*12))12*3
13000=P(1.00542)36
13000=P(1.214817)
P=$ 10701.2
Solution
A=P(1+(r/n))n*t
A = total amount
P = principal or amount of money deposited,
r = annual interest rate
n = number of times compounded per year
t = time in years
13000=P(1+(6.5/100*12))12*3
13000=P(1.00542)36
13000=P(1.214817)
P=$ 10701.2

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  • 1. A=P(1+(r/n))n*t A = total amount P = principal or amount of money deposited, r = annual interest rate n = number of times compounded per year t = time in years 13000=P(1+(6.5/100*12))12*3 13000=P(1.00542)36 13000=P(1.214817) P=$ 10701.2 Solution A=P(1+(r/n))n*t A = total amount P = principal or amount of money deposited, r = annual interest rate n = number of times compounded per year t = time in years 13000=P(1+(6.5/100*12))12*3 13000=P(1.00542)36 13000=P(1.214817) P=$ 10701.2