Question 1189641: You deposit Php 2500 into an account that pays 3.5% annual interest compounded daily. How long will it take for the balance to reach Php 3000
solution: A=Pe^rt
Answer by ikleyn(52794)   (Show Source):
You can put this solution on YOUR website! .
You deposit Php 2500 into an account that pays 3.5% annual interest compounded daily.
How long will it take for the balance to reach Php 3000
solution: A=Pe^rt
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Your formula in the post (the " instruction ") does not correspond to the wording description.
Making the post SELF-CONTRADICTORY.
Is my understanding correct that you create the "problems" on your own
without having necessary basic knowledge on the subject ?
To learn the subject from scratch, read the lessons
- Problems on discretely compound accounts
- Problems on continuously compounded accounts
in this site (on the free of charge basis . . . )
Consider these lessons as your textbook, handbook, guide, tutorials and (free of charge) home teacher.
You will find there everything that you need to know, in clear and compact form.
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