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anonymous

  • 5 years ago

into a bank account or CD (certificate of deposit) is given by ntnrPA⎟⎠⎞⎜⎝⎛+=1 A is the amount of the return. P is the principal amount initially deposited. r is the annual interest rate (expressed as a decimal). n is the number of compound periods in one year. t is the number of years. Carry all calculations to six decimals on each intermediate step, then round the final answer to the nearest cent. Suppose you deposit $2,000 for 5 years at a rate of 8%. a) Calculate the return (A) if the bank compounds annually (n = 1). Round your answer to the nearest cent. Answer: Use ^ to indicate the powe

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  1. anonymous
    • 5 years ago
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  2. anonymous
    • 5 years ago
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    Calculate the return (A) if the bank compounds quarterly (n = 4). Round your answer to the nearest cent.

  3. anonymous
    • 5 years ago
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    I put the answer on your other post

  4. anonymous
    • 5 years ago
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    ok thanks..

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