2006-07-17 19:56:11 · 6 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
Some regular calculators have a 'constant' feature when doing multiplication. The 'constant' in your case is 1.03.
1st, try to enter 50 x 1.03 = , you should get 51.50. This is the total at the end of your first year. Now press the "=" sign again to see if you would get 53.045. If it does, then your calculator uses the second number entered as a 'constant' multiplier. Then you can press "=", 5 more times to get your answer for 7 years, which should be around $61.49.
If it gives you 2575, then your calculator uses the first number entered as a 'constant' multiplier. Then you need to switch the number order to 1.03 x 50 = and proceed as above.
Not all calculators have this feature. But my pocket calculator from AT&T (AT-120, Big Number) uses the first entered number as a constant multiplier.....good luck.
2006-07-17 20:25:30 · answer #1 · answered by Retainer Nut 2 · 0⤊ 0⤋
not on a four function calculator. The Best you could do would be .
50 times 1.03 = times 1.03 = times 1.03 repeat it seven times.
If you had a scientific one you would enter 50 times 1.03 ^ 7
2006-07-18 03:01:41 · answer #2 · answered by alwaysmoose 7 · 0⤊ 0⤋
I = P(1 + r)^t
I = 50(1 + .03)^7
I = 50(1.03)^7
I = $61.49
2006-07-18 09:06:05 · answer #3 · answered by Sherman81 6 · 0⤊ 0⤋
Not sure if this would help you, but I use this site all the time for mathematical things such as this:
http://www.bankrate.com/brm/rate/calc_home.asp
2006-07-18 02:59:09 · answer #4 · answered by Helpneeded4girl 2 · 0⤊ 0⤋
compounded once annually: $61.49 after seven years.
2006-07-18 05:48:40 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Why are you asking weird question what does this have to do with the topic?
2006-07-18 02:59:27 · answer #6 · answered by t0mmyz 1 · 0⤊ 0⤋