Question

You deposit 3,800 in an account with an annual interest of 5.2% for 20 years

Answer 1

First, convert R percent to r a decimal
r = R/100
r = 5.2%/100
r = 0.052 per year,

Then, solve our equation for A
A = P(1 + r/n)nt
A = 3,800.00(1 + 0.004333333/12)(12)(20)
A = $ 10,726.90