Mathematics, 26.03.2020 20:49, bezar77

A bank features a savings account that has an annual percentage rate of r=5.1% with interest compounded quarterly. Ethan deposits $3,500 into the account. The account balance can be modeled by the exponential formula S(t)=P(1+r/n)^nt, where S is the future value, P is the present value, r is the annual percentage rate written as a decimal, n is the number of times each year that the interest is compounded, and t
is the time in years.
(A) What values should be used for P, r, and n?
P=
r=
n=
(B) How much money will Ethan have in the account in 8 years?
Answer =
Round answer to the nearest penny.

Answers: 2

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 17:50, kayleewoodard

Eric has challenged himself to walk 24,000 steps in 4 days. if eric walks the same number of steps each day, which function represents the number of steps eric still needs to walk to reach his goal with respect to the number of days since he started his challenge? a. y = 8,000x − 24,000 b. y = -8,000x + 24,000 c. y = 6,000x − 24,000 d. y = -6,000x + 24,000

Answers: 1

continue

Mathematics, 21.06.2019 18:00, puffley

10 ! a train starts from grand city and travels toward belleville 388 miles away. at the same time, a train starts from belleville and runs at the rate of 47 miles per hour toward grand city. they pass each other 4 hours later. find the rate of the train from grand city.

Answers: 1

continue

Mathematics, 21.06.2019 18:30, yasarhan2

An ulcer medication has 300 milligrams in 2 tablets. how many milligrams are in 3 tablets?

Answers: 1

continue

Mathematics, 21.06.2019 19:00, lex112592

Samantha is growing a garden in her back yard. she spend $90 setting up the garden bed and buying the proper garden supplies. in addition, each seed she plants cost $0.25. a. write the function f(x) that represents samantha's total cost on her garden. b. explain what x represents. c. explain what f(x) represents. d. if samantha plants 55 seeds, how much did she spend in total?

Answers: 2

continue

Do you know the correct answer?

A bank features a savings account that has an annual percentage rate of r=5.1% with interest compoun...