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 2 years ago
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
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

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

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

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

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

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

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

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

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

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

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