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
Algebra ->
Customizable Word Problem Solvers
-> Misc
-> 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
Log On
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.
===================
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
(