Compounded n Times Per Year

Joined
Jun 27, 2021
Messages
5,386
Reaction score
422
Section 3.1
50 & 52

20211011_104122.jpg


I need the formula to do this. Thanks.
 
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:
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.

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.
 
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.

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?



 

Members online

No members online now.

Forum statistics

Threads
2,521
Messages
9,844
Members
694
Latest member
FannyTurnb
Back
Top