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Nov 20, 2024
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typo in EL7 #433

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2 changes: 1 addition & 1 deletion source/precalculus/source/05-EL/07.ptx
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Expand Up @@ -282,7 +282,7 @@
<remark>
Another application of exponential equations is compound interest. Savings instruments in which earnings are continually reinvested, such as mutual funds and retirement accounts, use compound interest. The term compounding refers to interest earned not only on the original value, but on the accumulated value of the account.
<p>
Compound interest can be calcuated by using the formula <me> A(t)=P\left(1+\dfrac{r}{n}\right)^{nt} </me>, where <m>A(t)</m> is the account value, <m>t</m> is measured in years, <m>P</m> is the starting amount of the account (also known as the principal), <m>r</m> is the annual percentage rate (APR) written as a decimal, and <m>n</m> is the number of compounding periods in one year.
Compound interest can be calculated by using the formula <me> A(t)=P\left(1+\dfrac{r}{n}\right)^{nt} </me>, where <m>A(t)</m> is the account value, <m>t</m> is measured in years, <m>P</m> is the starting amount of the account (also known as the principal), <m>r</m> is the annual percentage rate (APR) written as a decimal, and <m>n</m> is the number of compounding periods in one year.
</p>
</remark>

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