An investor puts $ in an account that pays % interest compounded annually. Find the account balance after years.
The account balance after years is about
how much money and how much interest? i cant solve it without and numbers to work with
To find the account balance after a certain number of years, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the account balance after t years
P = the initial investment amount
r = the interest rate (written as a decimal)
n = the number of times the interest is compounded per year
t = the number of years
In this case, we are given the initial investment amount, but we are not given the interest rate or the number of times the interest is compounded per year.
If you provide me with the missing values, I can calculate the account balance for you.
This is an example of why some questions go unanswered.
The missing information makes it impossible to answer the question.
Before you hit that Submit button, make sure you have not left anything out, or repeated it unnecessarily.
Proofread your dang question!