Problem

A=p(1+rn)nt when p=200,r=0.04,n=1,t=3

Answer

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Answer

Final Answer: 224.9728

Steps

Step 1 :We are given a compound interest formula: A=p(1+rn)nt, where:

Step 2 :- A is the amount of money accumulated after n years, including interest.

Step 3 :- p is the principal amount (the initial amount of money).

Step 4 :- r is the annual interest rate (in decimal).

Step 5 :- n is the number of times that interest is compounded per year.

Step 6 :- t is the time the money is invested for in years.

Step 7 :We are given the values of p, r, n, and t as 200, 0.04, 1, and 3 respectively.

Step 8 :Substitute these values into the formula to find the value of A: A=200(1+0.041)1×3

Step 9 :Solving the above expression, we get A = 224.9728

Step 10 :Final Answer: 224.9728

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