Thursday

December 18, 2014

December 18, 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.

**Answer this Question**

**Related Questions**

math - Investor A deposits 1,000 into an account that earns an interest rate of ...

math - Jeanette wishes to retire in 30 years at age 55 with retirement savings ...

Math help! - Which is the better investment over a y year term? Calculate each ...

Math - Which is the better investment over a y year term? Calculate each one. ...

math- check my answer - An internet investment company advertises that if you ...

Math - How to calculate this? 4 year term investment. The investment offers a ...

Maths - Peter invests $12500 for 5 years at 12 percent per annum,compounded ...

finance math - Meg's pension plan is an annuity with a guaranteed return of 7% ...

Math - Alonzo plans to retire as soon as he has accumulated $250,000 through ...

Math - Meg's pension plan is an annuity with a guaranteed return of 9% interest ...