I Interest Amount. A P e r t 1144 P e 004 6 1144 P e 024 1144 e 024 P 9 P. This algebra precalculus video tutorial explains how to use the compound interest formula to solve investment word problems.
If you deposit 100 a month at 5 interest compounded monthly for 5 years youll have saved 6000 in deposits and earned 80061 in interest.
T Length of time investment will accrue. A Final amount. I Interest Amount. A P e r t 1144 P e 004 6 1144 P e 024 1144 e 024 P 9 P.