Homework Help: math

Posted by Amanda on Tuesday, November 27, 2012 at 12:24am.

Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years.
P = $24,000, r = 7%, t = 6, compounded monthly

$ ?

math - Steve, Tuesday, November 27, 2012 at 4:15am
A = 24000(1+.07/12)^(12*6) = 36482.53

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