CPM Homework Banner

A credit union offers a long-term account that pays % interest compounded monthly and your college fund currently contains .  

  1. What is the monthly multiplier?

    Add one to the percent interest, remember that the interest is compounded monthly so you must divide the interest by .

  2. Write a function of the form that represents the monthly situation.

  3. At the current rate, what will be the value of the account in years?