Leah has just inherited $12,000. She wants to invest the money so that she can increase the value of her inheritance. What are some of the ways she can do this?
1. Leah wants to invest the $12,000 in an account that pays 4.5% annual interest.
Part A
Write equations for the amount A(t) that will be in the account after t years, if the
interest is compounded continuously, daily, and monthly. Then, find the amount
after 10 years, rounded to the nearest cent, for each method of compounding.
Complete the table.