Problem
A=P(1+r/n)(exponent) nt
A=9000(1+.06/12) (exponent) 12 x 6
How do I solve this problem. Round to the neareth hundreth. I've been trying for 30 minutes with no luck. Can someone please show me the work and help?
[quote=misteworld;179113]Problem
A=P(1+r/n)(exponent) nt
A=9000(1+.06/12) (exponent) 12 x 6
See here,
$\displaystyle A=9000\left(1+\frac{0.06}{12}\right)^{12X6}$
$\displaystyle A=9000\left(1+0.005\right)^{72}$
$\displaystyle A=9000\left(1.005\right)^{72}$
$\displaystyle A=9000\left(1.432044278\right)$
$\displaystyle A=12888.40$