SOLUTION: #1.$480 at 10% compounded quarterly for 5 years #2. $800 at 2% compounded continuously for 8 years

Question 171207: #1.$480 at 10% compounded quarterly for 5 years

#2. $800 at 2% compounded continuously for 8 years
Answer by midwood_trail(310) (Show Source): You can put this solution on YOUR website!
You need the formula
A = Pe^(rt)
A = final amount
P = principal or original amount
r = rate of interest per year
t = time (in years)
================================
I will set up both equations and let you do the math.
If you cannot, then write back.
#1.$480 at 10% compounded quarterly for 5 years
A = 480e^(0.10)(5)...Solve for A
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#2. $800 at 2% compounded continuously for 8 years
A = 800e^(0.02)(8)...Solve for A
=================================================
Can you take it from here?

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