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The Formula for Compound Interest Is Where a Is

Question 69

Multiple Choice

The formula for compound interest is The formula for compound interest is where A is the amount accumulated from a principal of P dollars left untouched for n years with an annual interest rate r (expressed as a decimal) . Use this formula and a calculator to find A to the nearest cent. </sup> -P = $100, r = 0.03, n = 6 A) $1,194,052,296,529.00 B) $69.41 C) $119.41 D) $169.41 where A is the amount accumulated from a principal of P dollars left untouched for n years with an annual interest rate r (expressed as a decimal) . Use this formula and a calculator to find A to the nearest cent.
-P = $100, r = 0.03, n = 6


A) $1,194,052,296,529.00
B) $69.41
C) $119.41
D) $169.41

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