Posted by Anonymous on Monday, January 3, 2011 at 7:10pm.
$100 at 3% interest since 1996

math  drwls, Monday, January 3, 2011 at 8:22pm
Compounded 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
 simple interest and compound interest  the compound interest on certain sum for...
 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 ...
More Related Questions