An investment of \displaystyle PP dollars is compounded \displaystyle nn-times per year at a constant annual interest rate of \displaystyle r\%r%. The amount of money \displaystyle A(t)A(t) that you have after investing for \displaystyle tt years is given by the equation A(t) = P\left(1+\frac{r}{n}\right)^{nt}. A(t)=P(1+
n
r
​
)
nt
.

How much money would you have after 18 years if you invested $15,000 at an annual interest rate of 4% where the interest is compounded monthly? Round to the nearest dollar.

rick has $1400 and sally has $1500

step-by-step explanation:

to find amount of money rick has after 10 years :

principal = $1000 , time = 10 years , rate = 4% annually

to find amount of money sally has after 10 years :

her friend gives to pay her $50 per year, therefore money she has after 10 years = 50 × 10 = $500

also, sally gets $1000 after 10 years,

therefore, total amount of money sally has after 10 years = 500 + 1000 = $1500

so, after 10 years : rick has $1400 and sally has $1500

sadsdda

step-by-step explanation: