Exponential & Log Functions  Exercise 2  Using
The Compound Interest Formula
Use the compound interest formula below to find the total amount of
money A in an account where P = $2000 is deposited at 3%
interest (r=0.03) for t=4 years when interest is
compounded semiannually (n=2), monthly (n=12), and
daily (n=365). Just substitute the correct values in the formula
and evaluate the three different answers. No Further Justification
is Needed.
STATEMENT 
JUSTIFICATION 
P = 2000,
r=0.03, t=4, n=2, n=12, n=365

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