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$1040 invested for 20 years at 15% p.a. compounded half yearly...could u guys tell me how to transsfer yearly to monthly...and etc..

2007-08-18 16:02:27 · 1 answers · asked by nevin... 1 in Science & Mathematics Mathematics

1 answers

Compounded semiannually
P = 1,040(1 + 0.15/2)^(2*20)
Compounded quarterly
P = 1,040(1 + 0.15/4)^(4*20)
Compounded monthly,
P = 1,040(1 + 0.15/12)^(12*20)
Compounded daily,
P = 1,040(1 + 0.15/365)^(365*20)

2007-08-18 18:32:49 · answer #1 · answered by Helmut 7 · 0 0

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