SOLUTION: CAN SOMEONE SET THIS UP INTO THE FORMULA FOR ME TO SEE WHICH FORMULA IS NEEDED FOR ME TOSOLVE IT BY LOOKING AT THE SET UP. iF SOMEONE CAN THANK YOU.
Investments Suppose $10,000
Algebra.Com
Question 85875: CAN SOMEONE SET THIS UP INTO THE FORMULA FOR ME TO SEE WHICH FORMULA IS NEEDED FOR ME TOSOLVE IT BY LOOKING AT THE SET UP. iF SOMEONE CAN THANK YOU.
Investments Suppose $10,000 is invested at an annual rate
of 5% for 10 years. Find the future value if interest is compounded
as follows.
a. Annually
b. Quarterly
c. Monthly
d. Daily (365 days)
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
the equation you seek is ...
where v is the value of the account ... p is the starting principal
r is the interest rate PER COMPOUNDING PERIOD ... t is the number of periods
b. quarterly means one fourth of 5% so r=.0125 ... 4 compoundings per year for 10 years so t=40 ...
the others are done similarly
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