SOLUTION: I did not know what the proper catagory was, but stiil, Can someone please help me with these 2 problems.
principal rate time coumpounded i
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Question 764602: I did not know what the proper catagory was, but stiil, Can someone please help me with these 2 problems.
principal rate time coumpounded interest
------------------------------------------------------------------------------
$6000 6.25% 3 years annually __________
$300 5% 2 years semiannualy _______________
Found 2 solutions by stanbon, MathLover1:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
principal rate time coumpounded interest
------------------------------------------------------------------------------
A(t) = P(1 + (r/n))^(nt)
---------------------------------
$6000 6.25% 3 years annually __________
A(3) = 6000(1+(0.0625/1))^(1*3)
-----
A(3) = 6000(1.0625)^3
-----
A(3) = 6000*1.1995
A(3) = $7196.78
======================================================
$300 5% 2 years semiannualy _______________
A(2) = 300(1+(0.05/1))^(1*2)
A(2) = 300(1.05)^2
A(2) = $330.75
===================
Cheers,
Stan H.
===================
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
for compounded annually and
compounded semi-annually where is interest and the number of years
$, % , years annually
$, %, years semi-annually
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