Question 148108
The formula you want is [A=P(1+r/n)^tn
a) A=150,000(1+.054/1)^20*1
A=150,000(1+.054)^20
A=150,000(1.054)^20
A=150,000*2.863
A=$429,440.97 is the amount after 20 years @ 5.4%.
b)A=150,000(1+.0535/2)^20*2)
A=150,000(1+.02675)^40
A=150,000(1.02675)^40
A=150,000*2.87467
A=$421,200.96 is the amount after 20 years @ 5.35%.
c) A=150,000(1+.0525/12)^20*12
A=150,000(1+.004375)^240
A=150,000(1.004375)^240
A=150,000*2.8511
A=$427,667.10 is the amount after 20 years @ 5.25%