## Algebra: A Combined Approach (4th Edition)

Published by Pearson

# Chapter 12 - Section 12.3 - Exponential Functions - Exercise Set: 48

\661.03$#### Work Step by Step Solve using the formula$A=P(1+\frac{r}{n})^{nt}$as instructed. Identify values from the problem:$P=500r=0.07n=12t=4$. Substitute values into the formula:$A=500(1+\frac{0.07}{12})^{48}≈661.03\$.

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