SOLUTION: Hi -- This may sound strange, but I thought you could help. I have contacted Texas Instruments but not gotten a response. I know the calculation to find compound interest and compo

Question 113580: Hi -- This may sound strange, but I thought you could help. I have contacted Texas Instruments but not gotten a response. I know the calculation to find compound interest and compounded continuous interest, but I have trouble translating that to my calculator. I have a calculator guide but perhaps I'm not entering the information correctly. For example, let's say I have $22,400 and plan to invest it for 25 years at compounded quarterly interest of 6%. I know the answer, by the way, and I know the formula: A=P(1+.06/4) to the 100th power. (Am I doing the formula correctly?) Anyway, I hoped you might have a quick answer. If not, don't worry. Thanks.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A=P(1+.06/4) to the 100th power
-------------
You have the formula right.
Be careful when you enter the pieces of the problem
into you calculator. I always try to work from
the inside to the outside:
For Example
1st: 0.06/4 = 0.015
2nd: add one to get 1.015
3rd: raise to the 100th power = 4.43204565..
4th: multiply by 22400 to get = $99277.82
-----------------
If you try to enter too much of the problem
before you hit "ENTER" you increase the chances
that the calculator will perform correctly but
it will not be the right answer for your problem.
Be careful.
--------------
Cheers,
Stan H.
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