Answer
See below.
Work Step by Step
The formula gives the balance $A$ of an account with principal $P$ and annual interest rate $r$, in decimal form, subject to the compound interest paid $n$ times annually.
Intermediate Algebra for College Students (7th Edition)
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0-13417-894-7
ISBN 13:
978-0-13417-894-3
Chapter 9 - Section 9.1 - Exponential Functions - Concept and Vocabulary Check - Page 671: 4
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