Question: A formula for determine how much interest is earned using compound interest is given below: A = P(1 +- )nt T = time P =

A formula for determine how much interest is earned using compound interest is given below: A = P(1 +- )nt T = time P = principle or initial investment r = interest rate as a decimal value n = number of times compounded A = the amount in the bank after t years (sometimes called M for maturity value) How much would be in an account after 30 years of earning 5% interest on a $1000 investment that compounds quarterly (four times a year)? ii) How many years would it take the account to double

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