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LilRyG
Group Title
How do I set this p?
Use the compound interest formula to compute the total amount accumulated. $10,000 for 20 years at 5% compounded annually.
A. $20,000.00 B. $25,269.50 C. $19,500.00 D. $26,532.98
 2 years ago
 2 years ago
LilRyG Group Title
How do I set this p? Use the compound interest formula to compute the total amount accumulated. $10,000 for 20 years at 5% compounded annually. A. $20,000.00 B. $25,269.50 C. $19,500.00 D. $26,532.98
 2 years ago
 2 years ago

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timo86m Group TitleBest ResponseYou've already chosen the best response.2
post the formula
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
A=P(1+r/n)^(nt)
 2 years ago

eliassaab Group TitleBest ResponseYou've already chosen the best response.0
\[ P= P_0\left( 1 + r) \right)^n \]
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
r as a decimal rather than a percentage, n as the number of compoundings per year, and t as the time in years.
 2 years ago

eliassaab Group TitleBest ResponseYou've already chosen the best response.0
\[ 10000(1.05)^{20} \]
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
Looks right
 2 years ago

eliassaab Group TitleBest ResponseYou've already chosen the best response.0
. $26,532.98
 2 years ago

timo86m Group TitleBest ResponseYou've already chosen the best response.2
10,000 *(1+.05)^(20) D
 2 years ago

LilRyG Group TitleBest ResponseYou've already chosen the best response.0
that s 2 diferent formulas you guys are givin me. so witch one is it?
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
Yep. That looks right. @LilRyG  They're both right
 2 years ago

timo86m Group TitleBest ResponseYou've already chosen the best response.2
well the one with the n the n is just one. :)
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
Except n means something different in her formula.
 2 years ago

jabberwock Group TitleBest ResponseYou've already chosen the best response.0
n represents the number of years. Hers is only good for annual compounding.
 2 years ago

timo86m Group TitleBest ResponseYou've already chosen the best response.2
A=P(1+r/n)^(nt) the n is used to manipulate it to yearly quarterly or monthly
 2 years ago

timo86m Group TitleBest ResponseYou've already chosen the best response.2
with 1 it is yearly
 2 years ago

timo86m Group TitleBest ResponseYou've already chosen the best response.2
with n=12 montly n=12/4 quarterly
 2 years ago

LilRyG Group TitleBest ResponseYou've already chosen the best response.0
okay thank you guys!!
 2 years ago
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