anonymous
  • anonymous
Lena Dimock is saving for her college expenses. She sets aside $200 at the beginning of each three months in an account paying 8% annual interest, compounded quarterly. How much will Lena have accumulated in the account at the end of four years?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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IsTim
  • IsTim
So, this is compound interest?
anonymous
  • anonymous
yeah
IsTim
  • IsTim
I think all you have to do is plug and play (watch out for that quarterly; gunna have to do some special thing there)

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More answers

anonymous
  • anonymous
I dont know which formula to use. I keep getting all kinds of different answers on my calculator
IsTim
  • IsTim
And maybe a little algebra rearrangement. You do know the compound interest formula?
IsTim
  • IsTim
That is a problem . No textbook or notes?
anonymous
  • anonymous
etext, totally confusing
IsTim
  • IsTim
From the top of my head, I think it was something like Po=r(i+1)^n. could be wrong. A textbook is a friend here.
IsTim
  • IsTim
I suggest using google for the compound interest formula. Or Wolfram Alpha or Khan's Academy.
anonymous
  • anonymous
thanks, ill try wolfram. I was looking at khans academy last night, but no help. Maybe I need some sleep
IsTim
  • IsTim
You do need sleep. Sleep helps the mind.
anonymous
  • anonymous
http://qrc.depaul.edu/StudyGuide2009/Notes/Savings%20Accounts/Compound%20Interest.htm Use this site for example problem.
IsTim
  • IsTim
Sounds good to me.
IsTim
  • IsTim
Liking that site.
anonymous
  • anonymous
thanks a bunch guys
IsTim
  • IsTim
IF you have anymore questions, I guess Skylar and Ysjiang can be acquainted?
anonymous
  • anonymous
Hahaha, great. No problem. :)
IsTim
  • IsTim
Yes. Also, because I value virtual shinies, if you think my answer was good, give me a medal please.
anonymous
  • anonymous
now it maes sense :)
anonymous
  • anonymous
how do i do that
anonymous
  • anonymous
this is my first time on here. I really just stumbled or fell on to this site, haha wasnt even looking. But i think this will be my new home

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