Compounded n Times Per Year

Discussion in 'Other Pre-University Math' started by nycmathguy, Oct 11, 2021.

  1. nycmathguy

    nycmathguy

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    Section 3.1
    50 & 52

    20211011_104122.jpg

    I need the formula to do this. Thanks.
     
    nycmathguy, Oct 11, 2021
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  2. nycmathguy

    MathLover1

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    did you read anything before you go with this question

    The formula for compound interest is P (1 + r/n)^(nt), where P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.
     
    Last edited: Oct 11, 2021
    MathLover1, Oct 11, 2021
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  3. nycmathguy

    nycmathguy

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    To answer your question: no. My problem is time. I literally have no time to read the lesson section by the author before answering questions. I work 40 hours per week. I work overnight hours, which is not easy at all. This may be a poor excuse for you but I am not retired.

    Tonight is my Monday. I gotta go back to work 9pm to 7am. What do you think I do in the morning? I go straight to bed.

    Give me a few days to find time to read some of the notes by the author. Also, I was totally wrong trying to learn two courses simultaneously. Let's forget calculus 1 for now. I will tackle calculus 1 after completing my precalculus review. No rush going through the precalculus textbook. Just typing this note here gives me a sigh of relief.
     
    nycmathguy, Oct 11, 2021
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  4. nycmathguy

    nycmathguy

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    I am going to set up 50 and 52. Tell me if my set up is correct or not.

    Question 50

    I will set up for n = 1 only.

    P (1 + r/1)^(nt)

    A = 2500(1 + 0.035/1)^(1)(10)

    Yes?

    Question 52

    I will set up for n = 1 only.

    A = P (1 + r/n)^(nt)

    A = 1000(1 + 0.06/1)^(1)(40)

    Yes?



     
    nycmathguy, Oct 12, 2021
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  5. nycmathguy

    MathLover1

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    yes
     
    MathLover1, Oct 12, 2021
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  6. nycmathguy

    nycmathguy

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    Perfect.
     
    nycmathguy, Oct 12, 2021
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