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Do you know the compound interest formula?

Actually they are giving me the formula A=P(1+r/m)mt

\[10000(1+0.0495\div12)12\]

Same thing, different letters.

because in the examples they use 15000 and the answer turns out to be $15696.91

how did they get that answers from using the formula
because i know for m- i would put 12

What are the values they use in the examples?

they used 15000-p, 0.0455- r, and 12- m

Right so, put those values in in the formula.
\[A=15000(1+{0.0455\over 12})^{12}\]

yes

And you get: 15696.91

yes thats what they got

how did u reach to that?

thank you

let me try it myself and i will let you know

ok

Good luck.

Work it out in steps.
0.0495/12=a
1+a=b
b^12=c
P*c=F