Question

for the compound - interest formula, $a = p(1+\frac{r}{n})^{nt}$, match the correct meaning with its component. time in years, annual interest rate, amount of money accumulated, number of times that interest is compounded per year, principal amount a p r n t

Explanation:

In the compound - interest formula $A = P(1+\frac{r}{n})^{nt}$, $A$ is the final amount of money accumulated after $n$ compounding periods over $t$ years. $P$ is the principal amount (the initial amount of money). $r$ is the annual interest rate (in decimal form). $n$ is the number of times that interest is compounded per year. $t$ is the time in years.

Answer:

A. amount of money accumulated
P. principal amount
r. annual interest rate
n. number of times that interest is compounded per year
t. time in years