Gather variables the compound interest formula. Will there be 6000 dollars in the account A 6000 Putting these values into the formula above gives us. Plug in the giving information FV 12000 r 009 n 12 and t 6.
A P 1 r m mt In the present case A Future value of the investment is to be calculated.
R Annual Nominal Interest Rate in percent. P the principal investment amount the initial deposit or loan amount r the annual interest rate decimal n the number of times that interest is compounded per unit t. A P 1 r n n t r 12 100 0012. R Annual Nominal Interest Rate as a decimal.