P=principal or starting amount 14,000 n=number of times interest is compounded (if monthly, n=12)
r=rate convert % to decimal divide by 100 or move decimal...
t=time 10 years
Maria's parents invested $14,000 at 6% per year compounded monthly. How much money will there be in the
account after 10 years?
Use a calculator to complete this problem after finding the rate and time
A=14,000(1+rate)12 x time
12
How much money would the account have in 10 years at a rate of 7%?
Calculator: A=14,000(1+( "ate) (12 x 10)
Round to a whole dollar amount (no cents)