The principal amount, $4200, earns 3.6% interest compounded monthly. a. Write the function that represents the value of the account at any time, t.

b. What will the value be after 10 years?

a)

b)

The total amount accrued, principal plus interest,  from compound interest on an original principal of  $ 4,200.00 at a rate of 3.6% per year  compounded 12 times per year  over 10 years is $5667.28.

Step-by-step explanation:

a. Write the function that represents the value of the account at any time, t.

The function that represents the value of the account at any time, t

where

P represents the principal amount

r represents Annual Rate

n represents the number of compounding periods per unit t, at the end of each period

t represents the time Involve

b) What will the value be after 10 years?

Given

The principal amount  P = $4200

Annual Rate r = 3.6% = 3.6/100 = 0.036

Compounded monthly = n = 12

Time Period = t

To Determine:

The total amount A = ?

Using the formula

substituting the values

$

Therefore, the total amount accrued, principal plus interest,  from compound interest on an original principal of  $ 4,200.00 at a rate of 3.6% per year  compounded 12 times per year  over 10 years is $5667.28.

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)

i found two solutions,   n = 2 • ± √3 = ± 3.4641

step-by-step explanation: