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April 18, 2014

April 18, 2014

Posted by **Naimy** on Monday, February 16, 2009 at 8:06pm.

- Math -
**Reiny**, Monday, February 16, 2009 at 8:22pmhow about

400(1.075)^10 ?

or $824.41

- Math -
**Ms. Sue**, Monday, February 16, 2009 at 8:40pmAt 0.75 percent, I don't think you'd more than double your money in just 2.5 years.

I got a different answer. I used 0.0075 as the multiplier and figured it the long way -- quarter by quarter.

In the first quarter you'd earn $3.00. Add that to the original 400 and again multiply by 0.0075. At the end of the second quarter, you'd have $406.02.

Finally, by the end of the 10th quarter, I got a total of $431.03.

- Ms Sue is right - Math -
**Reiny**, Monday, February 16, 2009 at 10:58pmof course!

I left out a zero, and then punched in that wrong value in my calculator, without thinking about the answer.

should have been

400(1.0075)^10

= 431.03

thanks for catching that

- Math -
**Ms. Sue**, Monday, February 16, 2009 at 11:06pmYou're welcome, Reiny.

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