Wednesday

April 1, 2015

April 1, 2015

Posted by **Anonymous** on Monday, January 3, 2011 at 7:10pm.

- math -
**drwls**, Monday, January 3, 2011 at 8:22pmCompounded how often?

If only compounded annually, which is rare these days, the answer is

100*(1.03)^15 = $155.80

assuming the deposit was made on or just before Jan 1, 1996, 15 years ago.

If the interest is compounded monthly (180 times), the answer is

100*(1.0025)^180 = $156.74

**Answer this Question**

**Related Questions**

math - $100 a month with 3% interest since 1996

math - The following graph shows the growth of the median home value in a ...

math - the growth in population of a small town since 1996 is given by the ...

MATH HELP! Complex Interest - Huan deposited $850 into a collegesavings account ...

math - Huan deposited $850 into a collegesavings account earning 4.8% ...

Lat math question for some days. Can y'all help? - Huan deposited $850 into a ...

Math Help - 1. 77 is what percent of 192? A. x/100=77/192;4.01%**** B. x/100=77/...

Algebra - 1) The following graphs shows the growth of the median home value in a...

algebra - Assume that the growth of the membership of a country club was linear ...

Accounting - Ruben Company purchased $100,000 of Evans Company bonds at 100 ...