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October 24, 2014

October 24, 2014

Posted by **Thara** on Thursday, July 30, 2009 at 5:33pm.

- compounded interest -
**MathMate**, Thursday, July 30, 2009 at 6:05pm5.3% annual rate compounded semi-annually is the same as

(1+.053/2)²

=1.05370

=5.370% compounded annually

compounded monthly (6 times for semi-annual),

(1+.053/2) = (1+r)^6

r=((1.0265)^{(1/6)}-1)*6

=5.242409%

- compounded interest -
**Mary**, Monday, January 16, 2012 at 8:23pm$10,000 deposited into savings account day Katie was born 18th birthday 6.5% compounded monthly how much in the account on 18th birthday

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