Answer:
A = $6000{1+0.06/n}^nt
Step-by-step explanation:
If angel deposited $6,000 in an account that pays 6% interest compounded annually. The expression that can be used to determine the value of his investment is expressed as shown;
A = P(1+r/n)^nt
A is the total amount of investment compounded after
P is the principal
r is the interest rate
t is the time in years
n is the number of times interest is applied each period
Given P = $6000
r = 6% = 0.06
On substituting:
A = $6000{1+0.06/n}^nt
This gives the required expression
