The equation for compound interest is A P invested r is the

Last updated: 2/6/2023

The equation for compound interest is A P invested r is the interest rate as a decimal n is the number of times compounded annually and this the number of years where P is the initial amount Determine the value of the account if the initial investment is 8 000 compounded monthly at a rate of 6 after 10 years 8409 12 8480 00 14 326 78 14 555 17