Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

LilRyG

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

  • one year ago
  • one year ago

  • This Question is Closed
  1. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    post the formula

    • one year ago
  2. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    A=P(1+r/n)^(nt)

    • one year ago
  3. eliassaab
    Best Response
    You've already chosen the best response.
    Medals 0

    \[ P= P_0\left( 1 + r) \right)^n \]

    • one year ago
  4. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    r as a decimal rather than a percentage, n as the number of compoundings per year, and t as the time in years.

    • one year ago
  5. eliassaab
    Best Response
    You've already chosen the best response.
    Medals 0

    \[ 10000(1.05)^{20} \]

    • one year ago
  6. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    Looks right

    • one year ago
  7. eliassaab
    Best Response
    You've already chosen the best response.
    Medals 0

    . $26,532.98

    • one year ago
  8. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    10,000 *(1+.05)^(20) D

    • one year ago
  9. LilRyG
    Best Response
    You've already chosen the best response.
    Medals 0

    that s 2 diferent formulas you guys are givin me. so witch one is it?

    • one year ago
  10. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    Yep. That looks right. @LilRyG - They're both right

    • one year ago
  11. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    well the one with the n the n is just one. :)

    • one year ago
  12. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    Except n means something different in her formula.

    • one year ago
  13. jabberwock
    Best Response
    You've already chosen the best response.
    Medals 0

    n represents the number of years. Hers is only good for annual compounding.

    • one year ago
  14. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    A=P(1+r/n)^(nt) the n is used to manipulate it to yearly quarterly or monthly

    • one year ago
  15. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    with 1 it is yearly

    • one year ago
  16. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    with n=12 montly n=12/4 quarterly

    • one year ago
  17. LilRyG
    Best Response
    You've already chosen the best response.
    Medals 0

    okay thank you guys!!

    • one year ago
  18. timo86m
    Best Response
    You've already chosen the best response.
    Medals 2

    de nada :)

    • one year ago
    • Attachments:

See more questions >>>

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
  • 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.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.