help me please?

0 ⤊

suppose you deposit $20,000 for 3 years at a rate of 8%
calculate the return (A) if the bank compounds annually (n=1)
=20,000(1+ 0.08/1)1·3

2007-01-26 01:40:58 · 3 answers · asked by heart_broken31 1 in Science & Mathematics ➔ Mathematics

3 answers

Ok... step by step..

0.08/1 = 0.08

add 1 to that, you get 1.08

Take that to the third power, you get 1.259712

Multiply that by 20000, you get $25194.24

2007-01-26 01:53:09 · answer #1 · answered by Mathematica 7 · 0⤊ 0⤋

first you get 1.08 cubed so u have 20,000(1.08)^3 then you cube 1.08 giving you 1.259712 you multiply this by 20,000 and you have your awnser of 25,194.24 or 5,194.24 of intrest.

2007-01-26 09:53:32 · answer #2 · answered by ??? 4 · 0⤊ 0⤋

IN ENGLISH NERD!!!!!!!!!!!!!!!!! I don't understand dork! Reply!

2007-01-26 09:51:22 · answer #3 · answered by Issac Slade 1 · 0⤊ 2⤋