how do I do A(balance) = 1000(1+.06)t(yrs)?

smartyx101

New member
Joined
Sep 6, 2007
Messages
2
I need help with these questions:

1) $1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is A= 1000(1+0.06)t. Find the balance after 1 year, 10, and 20 years.

:?: :( :?
The bolded text is what I'm finding hard or can't get.

2) Safe: A fireproof safe has a cubical storage space inside. What is the volume of the storage space if each interior dimension is 12 inches.

Please reply
 

stapel

Super Moderator
Staff member
Joined
Feb 4, 2004
Messages
15,943
1) I'm not sure what's not to "get" here...? They gave you a formula that tells you the value of A for a given value of t. Then they gave you a list of values for t, and asked you to find the corresponding values of A. So you plugged in the t-values, simplified to find the A-values, and... then what? Where are you stuck? :?:

Please be specific! :!:

2) Just use the volume-of-a-cube formula you memorized back in grade school! :wink: :lol:

Eliz.

P.S. Welcome to FreeMathHelp! :D
 

smartyx101

New member
Joined
Sep 6, 2007
Messages
2
Thank you; I've got it now!
 
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