Thursday

July 24, 2014

July 24, 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

**Related Questions**

Algebra - suppose you invest $1100 at an annual interest rate of 4.3% compounded...

Algebra 2 - Suppose you invest $500 at an annual interest rate of 8.2% ...

Algebra 2 - Suppose you invest $1600 at an annual interest rate of 7.9% ...

Algebra 2 - Suppose you invest $1600 at an annual interest rate of 7.9% ...

math - Suppose you invest $700 at an annual interest rate of 7.6% compounded ...

Math - Suppose you invest $600 at an annual interest rate of 3.9% compounded ...

math - Suppose you invest $2500 at an annual interest rate of 3% compounded ...

Algebra - Suppose you invest $5000 at an annual rate of 4% compounded ...

Compound math - (Future Value) Suppose you invest $8000 into an account that ...

Algebra - Suppose that the annual interest rate on your checking account is 7.5 ...