The compound interest formula is below, where R is the future value of the investment, r...

 

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The compound interest formula is below, where R is the future value of the investment, r is the annual interest rate (as a decimal), n is the number of times interest is compounded each year, t is the number of years the principle is invested, and P is the principle which represents the original amount of money invested. Mary invested $1000 at 5% annual interest in an account that compounds interest 4 times per year. If she kept her money in the account for 5 years, how much will her future value be? P(1+)"= = R n The compound interest formula is below, where R is the future value of the investment, r is the annual interest rate (as a decimal), n is the number of times interest is compounded each year, t is the number of years the principle is invested, and P is the principle which represents the original amount of money invested. Mary invested $1000 at 5% annual interest in an account that compounds interest 4 times per year. If she kept her money in the account for 5 years, how much will her future value be? P(1+)"= = R n

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P1rnnt R P 1000 r 005 n 4 t 5 R ... View the full answer