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April 23, 2014

April 23, 2014

Posted by **john** on Sunday, April 13, 2008 at 8:46pm.

- algebra -
**drwls**, Sunday, April 13, 2008 at 8:54pmWhqt do you mean by compounding "continuously?

Daily? Every hour?

If there is daily compounding, the investment increases by a factor

[1 + (0.039/365])^365 = 1.039768 per year. After 2 1/2 years that factor becomes

1.039768)^2.5 = 1.102406

Multiply that by the initial 17,000 and you have $18,740.90

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