word problem

[flew62999]

If $12000 is invested at a rate of 10% per year find the value of the investment after 8 years if compounded quarterly. (use A = P(1 + r/n)^nt)

12000 = 10% (1 + r/n)^nt

what is r, n and t stand for?

 

[galactus]

r=interest rate in decimal form

n=number of interest periods per year

t=number of years P is invested. P=12,000

plug and chug