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July 24, 2014

July 24, 2014

Posted by **Sandi** on Saturday, October 2, 2010 at 5:13pm.

A=P(1+i)^n

2200(1+.097/4)^120

=$390067

to get the 120 I did 55-25=30 then * by 4 cause its compounded quarterly. But answer seems so high I'm questioning myself.

- math 20 please check -
**Reiny**, Saturday, October 2, 2010 at 5:42pmYou are correct!

I got $390 067.17, the same as your answer.

You are looking at the power of compound interest.

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