A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 3 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
anonymous
 3 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

This Question is Closed

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

anonymous
 3 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.

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

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.010,000 *(1+.05)^(20) D

anonymous
 3 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?

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

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0well the one with the n the n is just one. :)

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

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

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0A=P(1+r/n)^(nt) the n is used to manipulate it to yearly quarterly or monthly

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0with n=12 montly n=12/4 quarterly

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0okay thank you guys!!
Ask your own question
Sign UpFind more explanations on OpenStudy
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
 Engagement 19 Mad Hatter
 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.