school
Acemy

Nonlinear Functions

SAT Math· difficulty 3/5

Which expression gives the balance after tt years on \Pinvestedatannualrateinvested at annual rater$ compounded monthly?

  • A

    P(1+r/12)12tP(1+r/12)^{12t}

    check_circle
  • B

    P(1+12r)tP(1+12r)^t

  • C

    P(1+r)tP(1+r)^t

  • D

    P⋅ertP \cdot e^{rt}

Explanation

Compounded nn times per year: P(1+r/n)ntP(1 + r/n)^{nt}, with n=12n = 12.

Want 10 more like this — adaptive to your weak spots?

Practice 10 like thisarrow_forwardPredict my AP score

Related questions

auto_awesomeAll Toolsquestion_answerHomework Q&Amenu_bookAP & SAT PreptimelineLearn Mode