Intermediate Algebra (6th Edition)

Published by Pearson
ISBN 10: 0321785045
ISBN 13: 978-0-32178-504-6

Chapter 9 - Section 9.3 - Exponential Functions - Exercise Set - Page 560: 48

Answer

$4915.85

Work Step by Step

$A = P*(1+\frac{r}{n})^{n*t}$ $t=5*4$ $P=3000$ $r=.10$ $n=4$ $A = P*(1+\frac{r}{n})^{n*t}$ $A = 3000*(1+\frac{.1}{4})^{5*4}$ $A = 3000*(1+.025)^{20}$ $A = 3000*(1.025)^{20}$ $A = 3000 *1.638616$ $A = 4915.8493$ $A = 4915.85$
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