2007-03-11 13:26:32 · 4 answers · asked by angelwings 1 in Science & Mathematics ➔ Mathematics
if interest is i per period then after n periods $1 should grow to
(1+i)^n
2007-03-11 13:29:36 · answer #1 · answered by hustolemyname 6 · 0⤊ 0⤋
If the interest is compounded once a year:
A = P(1 + r)n
If the interest is compounded q times a year:
A = P(1 + r/q)nq
P is the principal
r is the annual rate of interest as a decimal
n is the number of years you leave it on deposit
A is how much money you've accumulated after n years, including interest
2007-03-11 20:33:03 · answer #2 · answered by Gardenia 6 · 0⤊ 0⤋
If it's compounded continuously, the formula is
A=Pe^rt
where e is the number that's about 2.7 (you can find it on your calculator)
2007-03-11 20:39:16 · answer #3 · answered by mscallicat 2 · 0⤊ 0⤋
Go to:
http://math.about.com/library/weekly/aa042002a.htm
Guido
2007-03-11 20:34:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋