math

The formula for calculating the amount of money returned for an initial deposit money into a bank account or CD (Certificate of Deposit) is given by

A is the amount of returned.
P is the principal amount initially deposited.
r is the annual interest rate (expressed as a decimal).
n is the compound period.
t is the number of years.

Carry all calculations to 6 decimals on all assignments then round the answer to the nearest cent.


Prt = A

  1. 👍
  2. 👎
  3. 👁

Respond to this Question

First Name

Your Response

Similar Questions

  1. algebra 2

    The amount of money in an account with continuously compounded interest is given by the formula A=Pe^rt , where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the nearest hundredth of a

  2. Algebra 1

    The amount of money in an account may increase due to rising stock prices and decrease due to falling stock prices. Nathan is studying the change in the amount of money in two accounts, A and B, over time. The amount f(x), in

  3. Math

    Betsy, a recent retiree, requires $6,000 per year in extra income. She has $60,000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit (CD) paying 3% per year. How much money should be

  4. algebra

    Jacob deposits $60 into an investment account with an interest rate of 4%, compounded annually. The equation, y = 60(1 + 0.04)x, can be used to determine the number of years, x, it takes for Jacob's balance to reach a certain

  1. Math

    Diane is putting money into a checking account. Let represent the total amount of money in the account (in dollars). Let represent the number of weeks Diane has been adding money. Suppose that x and y are related by the equation

  2. Math

    The ratio of the amount of money Jason had to the amount of money Wilson had was 12:13. After Wilson spent $63, Jason had 3 times as much money as Wilson. a) How much money did Jason have? b) How much money do they have

  3. Math

    Suppose you deposit $2000 in an account with an annual interest rate of 7% compounded quarterly. Use the formula A=P(1+r/n)^n*t and round each answer to 2 decimal places, if necessary. a. Find an equation that gives the amount of

  4. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money

  1. Math

    The Romascos hope to have $2,000 in 3 years for a down payment on a new pool. They invest $1,000 in an account that pays 8% interest at the end of each year. Will they have enough money at the end of 3 years to meet their goal of

  2. Math

    ann went shopping and spent half her money on a dress a third on a t shirt and a tenth on a cd . She returned with 15 dollars . how much money did she have to begin with

  3. math

    The amount of money in an account with continuously compounded interest is given by the formula A = Pert, where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the hundredth of a year

  4. Fractions

    1/3 of Milo's money was 4/5 of Alan's money. If Milo gave $18 to Alan and he returned $4 to him a few days later, then both of them would have an equal amount of money left. How much did Milo have at first?

You can view more similar questions or ask a new question.