Answer
The decimal part ($r/n$) can be simplified to just $r$, and the exponent ($nt$) can be simplified to just $t$
Work Step by Step
Since $n=1$ when we want to compound annually, we can simplify the decimal and the exponent.
Algebra 1
by Hall, Prentice
Published by
Prentice Hall
ISBN 10:
0133500403
ISBN 13:
978-0-13350-040-0
Chapter 7 - Exponents and Exponential Functions - 7-7 Exponential Growth and Decay - Lesson Check - Page 458: 7
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