Compound interest is interest earned on both the initial investment and the previously earned interest. an initial amount of money, the principal p 0, is invested in an account that pays an annual interest rate r (written as a decimal), compounded n times per year. the amount in the account at the end of each time period is the principal plus the interest.
for example, $1,000 is invested at a 2% interest rate and compounded quarterly. then p 0 = 1,000, r = 0.02, and n = 4.
describe the location of the vertex of the parabola relative to the x-axis. how many zeros does the polynomial have?
(fill in the blanks)
time period, amount in the account (with rounding)
initial principal, p 1,000
end of the first period 1,000 + 1,000 + 0.02/4 =
end of the second period + * 0.02/4 =
end of the third period + * 0.02/4 =
end of the fourth period + * 0.02/4 =