Problem involving a system of equations

Click For Summary
The discussion centers on a problem involving the future value of a $1000 deposit in a savings account with a 3.2% annual interest rate compounded monthly. Participants emphasize the necessity of using a homework template and making an initial attempt at solving the problem before receiving assistance. There is a note that an image related to the problem is not visible, which hinders the discussion. Ultimately, the thread was closed due to the lack of a solution attempt and proper formatting. Proper engagement with the homework guidelines is crucial for receiving help.
mimi88
Messages
17
Reaction score
0
Member warned that the template must be used

Homework Statement


If an amount of $1000 is deposited in a savings account that pays 3.2% interest per year compounded monthly, the amount in the account after nmonths is given by:

nth_term_sequence3.png


The amount in the account after 2 years (rounded to one decimal point) will be??
 
Physics news on Phys.org
Two comments:

(1) We can't see the image you posted.

(2) You need to use the homework template and make an effort to solve the problem on your own before we can help.
 
mimi88 said:

Homework Statement


If an amount of $1000 is deposited in a savings account that pays 3.2% interest per year compounded monthly, the amount in the account after nmonths is given by:
nth_term_sequence3.png


The amount in the account after 2 years (rounded to one decimal point) will be??
The Homework template looks the following.

Homework Statement



Homework Equations



The Attempt at a Solution



.
 
Thread closed due to no attempt shown and template not used.
 

Similar threads

  • · Replies 8 ·
Replies
8
Views
3K
  • · Replies 1 ·
Replies
1
Views
2K
  • · Replies 16 ·
Replies
16
Views
5K
  • · Replies 2 ·
Replies
2
Views
2K
  • · Replies 9 ·
Replies
9
Views
5K
  • · Replies 29 ·
Replies
29
Views
4K
  • · Replies 3 ·
Replies
3
Views
2K
Replies
1
Views
1K
Replies
2
Views
2K
Replies
2
Views
3K