Algebra: A Combined Approach (4th Edition)

Published by Pearson
ISBN 10: 0321726391
ISBN 13: 978-0-32172-639-1

Chapter 12 - Section 12.3 - Exponential Functions - Exercise Set - Page 863: 45



Work Step by Step

Solve using the formula $A=P(1+\frac{r}{n})^{nt}$ as instructed. Identify values from the problem: $P = 6000$ $r = 0.08$ $n=12$ $t=3$ Substitute values into the formula: $A=6000(1+\frac{0.08}{12})^{36} \approx 7621.42$
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