Question 1146466: Complete the table to determine the balance A for $1000 invested at rate r for t years and compounded n times per year. (Round your answers to the nearest cent.)
r = 4%, t = 8 years
1,2,4,12,365, Continuous
Answer by greenestamps(13198)   (Show Source):
You can put this solution on YOUR website!
You can do the calculations.
You need two formulas....
(1) periodic compounding:
A = amount (future value)
P = principal ($1000)
r = (annual) interest rate (4% = .04)
t = time (years) (3)
n = number of compounding periods per year (different cases: 1, 2, 4, 12, and 365)
(2) continuous compounding:
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