posted by Anonymous on .
If $8,500 is deposited in a compound interest account paying 3.9% interest annually, how much will be in the account after 12 years?
Pt = Po(1+r)^n.
r = 3.9% / 100% = 0.039=APR expressed
as a decimal.
n = 1comp/yr * 12yrs.=12 Compounding
Pt = 8500(1.039)^12 = $13,452.58.