Basics of Compound Interest Models

$$A\left(x\right)=P\left(1+\frac{r}{n}\right)^{nx}$$  

what does the x measure in the compound interest model?

$$A\left(x\right)=P\left(1+\frac{r}{n}\right)^{nx}$$  

what does the P measure in the compound interest model?

$$A\left(x\right)=P\left(1+\frac{r}{n}\right)^{nx}$$  

what does the A measure in the compound interest model?

$$A\left(x\right)=P\left(1+\frac{r}{n}\right)^{nx}$$  

what does the r measure in the compound interest model?

$$A\left(x\right)=P\left(1+\frac{r}{n}\right)^{nx}$$  

what does the n measure in the compound interest model?

$$12000=1000\left(1+\frac{0.036}{4}\right)^{4x}$$  

Use this equation to answer the following question

What is the interest rate?

$$12000=1000\left(1+\frac{0.036}{4}\right)^{4x}$$  

Use this equation to answer the following question

What is the principal?

$$12000=1000\left(1+\frac{0.036}{4}\right)^{4x}$$  

Use this equation to answer the following question

What is the balance of the account?

$$12000=1000\left(1+\frac{0.036}{4}\right)^{4x}$$  

Use this equation to answer the following question

What is the frequency of compounding of interest of the account?

$$12000=1000\left(1+\frac{0.036}{4}\right)^{4x}$$  

Solve for x round answer to three decimal places

(a)