document.write( "Question 1172427: i hope you can help me to solve this, by using geometric series.
\n" ); document.write( "thank you!\r
\n" ); document.write( "\n" ); document.write( "A sum of money is deposited into a bank account at the end
\n" ); document.write( "of each month for 5 years. The account earns a monthly interest rate
\n" ); document.write( "of 1.75%. What is the compounding factor?\r
\n" ); document.write( "\n" ); document.write( "Superannuation is a long-term investment plan to help employees
\n" ); document.write( "in their retirement where employers make regular contributions to
\n" ); document.write( "the employees’ fund. \n" ); document.write( "

Algebra.Com's Answer #797454 by ikleyn(52790) $\"\"$ $\"About$

You can put this solution on YOUR website!
.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Let me make several notices regarding your post.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "1)  In my life, I saw several textbooks in Math, written in English (more than 10), but never saw this term \"Superannuation\".\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    The standard term in Math textbooks is an \"Ordinary Annuity saving plan\", if I correctly understand the context.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    We, the tutors of this forum, are not professionals in Finance.\r\n" );
document.write( "\r\n" );
document.write( "    Sometime (quite often) we are able to solve Finance problems\r\n" );
document.write( "\r\n" );
document.write( "    until they are not deeply specialized in Finance and follow standard Math terminology - \r\n" );
document.write( "\r\n" );
document.write( "    - but we are not specialists in Finance to freely interpret their professional terminology.\r\n" );
document.write( "    \r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "2)  Same regarding this term \"the compounding factor\".\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    +-----------------------------------------------------------------+\r\n" );
document.write( "    |    Can you clarify PLEASE what do you mean using this term ?    |  \r\n" );
document.write( "    |    (because in different sources of Finance I saw different     |\r\n" );
document.write( "    !                     definitions).                               |\r\n" );
document.write( "    +-----------------------------------------------------------------+\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "3)  The concluding part of the post starting from the word \"Superannuation . . . \" actually does not explain \r\n" );
document.write( "\r\n" );
document.write( "    anything for us - so it does not carry any sensical meaning.\r\n" );
document.write( "

\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "In short, my questions are:\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "

\r\n" );
document.write( "    - Is the \"Superannuation\" the same as an \"Ordinary Annuity saving plan\" ?\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    - Please clarify what \"the compounding factor\" means IN CONTEXT of YOUR PROBLEM.\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Thank you.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );