Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

moustafa55

bob invests $3700 in an account paying 3% compounded monthly . how much is in the account after 8 months?

  • 2 years ago
  • 2 years ago

  • This Question is Closed
  1. mr.luna
    Best Response
    You've already chosen the best response.
    Medals 1

    use your eqauation you have all the inputs. principal, rate, and time. i dont remeeber it but if you post it i can give it a shot

    • 2 years ago
  2. Chlorophyll
    Best Response
    You've already chosen the best response.
    Medals 0

    Do you know Compound interest formula?

    • 2 years ago
  3. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    is it A= p(1+r/n) ^n*t

    • 2 years ago
  4. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    i treid it but i didnt get the right answer

    • 2 years ago
  5. mr.luna
    Best Response
    You've already chosen the best response.
    Medals 1

    alrite so , a=3700(1+(.03/n))^n8

    • 2 years ago
  6. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    the answer is 3774.65

    • 2 years ago
  7. Chlorophyll
    Best Response
    You've already chosen the best response.
    Medals 0

    Great job at knowing your formula correctly :)

    • 2 years ago
  8. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    but i dont kno how to do it

    • 2 years ago
  9. Chlorophyll
    Best Response
    You've already chosen the best response.
    Medals 0

    Compounded monthly -> n = 12

    • 2 years ago
  10. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    ok ill try it out

    • 2 years ago
  11. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    what do i put for t?

    • 2 years ago
  12. mr.luna
    Best Response
    You've already chosen the best response.
    Medals 1

    8

    • 2 years ago
  13. moustafa55
    Best Response
    You've already chosen the best response.
    Medals 0

    i still did not get the answer

    • 2 years ago
  14. Chlorophyll
    Best Response
    You've already chosen the best response.
    Medals 0

    Show us how do you calculate it?

    • 2 years ago
  15. Chlorophyll
    Best Response
    You've already chosen the best response.
    Medals 0

    n = 12, n * t = 12 * 8/12 = 8

    • 2 years ago
    • Attachments:

See more questions >>>

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.