Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.4 Compound Interest - Concept and Vocabulary Check - Page 520: 7


$P$, $A$, $t$, $r$, $n$

Work Step by Step

In the formula, the variable $P$ represents the amount that needs to be invested now in order to have $A$ dollars accumulated in $t$ years in an account that pays rate $r$ compounded $n$ times per year.
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