Question 38927
a) quarterly
{{{P(a) = a(1 + r/n)^(tn)}}}
{{{P(a) = 100(1 + .01/4)^(4)}}}
{{{P(a) = 101.00}}}
b) monthly
{{{P(a) = a(1 + r/n)^(tn)}}}
{{{P(a) = 100(1 + .07/12)^(12)}}}
{{{P(a) = 107.23}}}
c) continuously
{{{P(a) = a(1 + r)^t}}}
{{{P(a) = 100(1 + .07)}}}
{{{P(a) = 107}}}