document.write( "Question 1093899: Please help me understand this
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document.write( "The formula when interest is compounded n time per year is A=p(1+r/n)nt \r
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document.write( "Where A is the accrued amount after t years, P is the starting principal, and r is the interest rate, expressed as a decimal, that is compounded n times a year. If you invest $1000 at an interest rate of 7%, and leave it there for 30 years, determine your ending balance if the interest is compounded.
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document.write( "1. Once a year 2. Twice a year
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Algebra.Com's Answer #708515 by josmiceli(19441)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "------------------------------------------------ \n" ); document.write( "Note that unless you know what \n" ); document.write( "for instance, if \n" ); document.write( " \n" ); document.write( "----------------------- \n" ); document.write( "(1) \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "$7,612.30 ending balance \n" ); document.write( "------------------------------ \n" ); document.write( "(2) \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "$7,878.10 ending balance \n" ); document.write( "--------------------------------- \n" ); document.write( "get a 2nd opinion, too, if needed \n" ); document.write( "on the problems \n" ); document.write( " \n" ); document.write( " |