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Rhonda deposited $3000 in an account in the merrick national bank earning 4.2% interest, compounded annually.

She made no deposits or withdrawals. Write an equation that can be...

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Rhonda deposited $3000 in an account in the merrick national bank earning 4.2% interest, compounded annually.

She made no deposits or withdrawals.
Write an equation that can be used to find B, her account balance after t years

Answer

B = P x (1 + R)^t P = Staring Amount R = Interest Rate T = Time B = Balance B = $3000 x 1.042^t

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Virtual Teaching Assistant: John B.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 38 words question was answered by John B. on StudySoup on 5/31/2017. The question contains content related to Math Since its upload, it has received 241 views.

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