## Precalculus (6th Edition) Blitzer

The amount that will be received after 30 years is $\$91,361$and the interest that will be received is$\$55,361$ dollars.
Put in the values: $P=100,r=0.055,n=12,t=30$ So, \begin{align} & A=\frac{100\left[ {{\left( 1+\frac{0.055}{1} \right)}^{12\cdot 30}}-1 \right]}{\frac{0.055}{12}} \\ & A\approx \91,361\\\end{align}$Here, interest is equal to the value of annuity minus total deposit. Thus,$\begin{align} & \text{Interest}\approx \$91,361-\$100\cdot12\cdot30\\&\approx\55,361\end{align}