2006-11-21 18:04:32 · 5 answers · asked by shumonicagraham 2 in Science & Mathematics ➔ Mathematics
Total = P * (1 + r)^t = $1762.34
General formulation:
P * (1 + r/c)^(t*c)
P = initial principle
r = rate/yr in decimal.
t = # of years
c = # of periods that is compounded in a year
2006-11-21 18:07:57 · answer #1 · answered by feanor 7 · 0⤊ 2⤋
I =Pxrxt/100
I=?
I=1000x12x5/100
=600
The amount will be 1000+600
=1600 $ Ans.
2006-11-22 06:34:19 · answer #2 · answered by Anonymous · 0⤊ 3⤋
Use this formula
Amount = P (1+r/100)^t
Here, the amount will be
1000 (1+12/100)^5
or, 1000 (1+0.12)^5
or, 1000 (1.12)^5
or, 1000 X 1.76234
or, 1,762.34
and that is the answer :)
cheers
2006-11-22 04:38:58 · answer #3 · answered by TJ 5 · 1⤊ 1⤋
P(t)=a(1+x)^t
P(t)=1000(1.12)^5=1762.34
$1762.34 in your bank acount after five years enjoy, but 12% interest good luck finding that anywhere
2006-11-22 02:15:03 · answer #4 · answered by Zidane 3 · 0⤊ 2⤋
I can't figure it out. Glad my wife does the banking.
2006-11-22 02:53:02 · answer #5 · answered by Anonymous · 0⤊ 3⤋