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Help with math problem?..?
Complete the table and find the balance. A if $3500 is invested at an annual percentage rate of 3% for 10 years and compounded n times a year.
n=1,2,4,12,365
A=
*SO, the formula I think is A=p(1+r/n)nt

$3500 (1+.03-12) to the power of 10*12?...

2007-10-15 16:12:27 · 1 answers · asked by Cherryberry 1 in Science & Mathematics Mathematics

1 answers

Your formula is correct, but the last line doesn't follow the formula.
A(1) = $3500(1 + 0.03/1)^(1*10)= $3500(1.03)^10
A(2)= $3500(1 + 0.03/2)^(2*10)=$3500(1.015)^20
A(4) = $3500(1 + 0.03/4)^(4*10)
and so forth . . .

2007-10-15 17:31:29 · answer #1 · answered by Helmut 7 · 0 0

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