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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

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  1. timo86m Group Title
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    post the formula

    • 2 years ago
  2. jabberwock Group Title
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    A=P(1+r/n)^(nt)

    • 2 years ago
  3. eliassaab Group Title
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    \[ P= P_0\left( 1 + r) \right)^n \]

    • 2 years ago
  4. jabberwock Group Title
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    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
  5. eliassaab Group Title
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    \[ 10000(1.05)^{20} \]

    • 2 years ago
  6. jabberwock Group Title
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    Looks right

    • 2 years ago
  7. eliassaab Group Title
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    . $26,532.98

    • 2 years ago
  8. timo86m Group Title
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    10,000 *(1+.05)^(20) D

    • 2 years ago
  9. LilRyG Group Title
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    that s 2 diferent formulas you guys are givin me. so witch one is it?

    • 2 years ago
  10. jabberwock Group Title
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    Yep. That looks right. @LilRyG - They're both right

    • 2 years ago
  11. timo86m Group Title
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    well the one with the n the n is just one. :)

    • 2 years ago
  12. jabberwock Group Title
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    Except n means something different in her formula.

    • 2 years ago
  13. jabberwock Group Title
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    n represents the number of years. Hers is only good for annual compounding.

    • 2 years ago
  14. timo86m Group Title
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    A=P(1+r/n)^(nt) the n is used to manipulate it to yearly quarterly or monthly

    • 2 years ago
  15. timo86m Group Title
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    with 1 it is yearly

    • 2 years ago
  16. timo86m Group Title
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    with n=12 montly n=12/4 quarterly

    • 2 years ago
  17. LilRyG Group Title
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    okay thank you guys!!

    • 2 years ago
  18. timo86m Group Title
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    de nada :)

    • 2 years ago
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