A = the money you're trying to find. If the question asks how much money after X years, then you know you're trying to find for A.
P = principal amount. The amount of money you're starting out with. You are given $500 for P = 500.
R = interest rate. It's always in decimal. You are given 5% so it'll be 5/100 = .05
n = number of times compounded per year. It says annually so it'll be 1. If it said every 2 years, it'd be 2.
t = number of years deposited/borrowed. It says 10.
1) divide .05/1 and then add 1.
4) $814.45. <<<< Answer
The Following 2 Users Say Thank You to Ian For This Useful Post:
Seriously, if you can't learn to substitute a couple of values into an expression, I have no clue why you're doing this. If you intend to keep making new threads and asking us to solve your stuff, you might as well do it in the spam section. I have nothing against explaining it to you, but hell, can you at least try to solve it yourself first?