In the compound interest formula A = P(1 + r/n) nt , we can think of P
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In the compound interest formula A = P(1 + r/n)nt, we can think of P as the present value of an investment and A as the future value of an investment after t years. For example, if you were saving for college and needed a future value of A dollars, then P would represent the amount needed in an account today to reach your goal in t years at an interest rate of r, compounded in times per year. If we solve the equation for P, it results in
Verify that the two formulas are equivalent by transforming the first equation into the second.
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Related Book For 
College Algebra With Modeling And Visualization
ISBN: 9780134418049
6th Edition
Authors: Gary Rockswold
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