Question 1203887
.


Looking in your posts from day to day and from year to year, I see 
that you REGULARLY post incorrect formulations.


This one is incorrect, too.


It is incorrect, because the account is compounded, but in your post, there is no an instruction, 
if the money is withdrawn at the end or at the beginning of the period/year.


I do not think that "your professor" or your source is so illiterate in order for do not know it.


From it, I make the ONLY possible conclusion that it is YOU who creates these incorrect problems.