anonymous
  • anonymous
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
Mathematics
chestercat
  • chestercat
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anonymous
  • anonymous
post the formula
anonymous
  • anonymous
A=P(1+r/n)^(nt)
anonymous
  • anonymous
\[ P= P_0\left( 1 + r) \right)^n \]

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anonymous
  • anonymous
r as a decimal rather than a percentage, n as the number of compoundings per year, and t as the time in years.
anonymous
  • anonymous
\[ 10000(1.05)^{20} \]
anonymous
  • anonymous
Looks right
anonymous
  • anonymous
. $26,532.98
anonymous
  • anonymous
10,000 *(1+.05)^(20) D
anonymous
  • anonymous
that s 2 diferent formulas you guys are givin me. so witch one is it?
anonymous
  • anonymous
Yep. That looks right. @LilRyG - They're both right
anonymous
  • anonymous
well the one with the n the n is just one. :)
anonymous
  • anonymous
Except n means something different in her formula.
anonymous
  • anonymous
n represents the number of years. Hers is only good for annual compounding.
anonymous
  • anonymous
A=P(1+r/n)^(nt) the n is used to manipulate it to yearly quarterly or monthly
anonymous
  • anonymous
with 1 it is yearly
anonymous
  • anonymous
with n=12 montly n=12/4 quarterly
anonymous
  • anonymous
okay thank you guys!!
anonymous
  • anonymous
de nada :)

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