Homework Help: College Algebra

Posted by Shawntee on Thursday, January 6, 2011 at 8:05pm.

Investment A: $5,000 invested for 7 years compounded semiannually at 9%.
Investment B: $ 6,000 invested for 5 years compounded quarterly at 4.1%.
Find each total for each investment and determine which investment results are greater.

College Algebra - Reiny, Thursday, January 6, 2011 at 9:19pm
A: amount = 5000(1.045)^14 = ....

b: amount = 6000(1.01025)^20 = ....
College Algebra - helper, Thursday, January 6, 2011 at 9:24pm
A(t) = P (1 + r/n)^nt
P = 5000, t = 7, r = .09, n = 2

A(7) = 5000 (1 + .09/2)^2(7)
A(7) = 5000 (1 + 0.045)^14
A(7) = 5000 (1.045)^14
A(7) = $9259.72 interest
5000 + 9259.72 = 14259.72

A(t) = P (1 + r/n)^nt
P = 6000, t = 5, r = .0410, n = 4

A(7) = 6000 (1 + .0410/4)^4(5)
A(7) = 6000 (1 + 0.01025)^20
A(7) = 6000 (1.01025)^20
A(7) = $7357.47 interest
6000 + 7357.47 = 13357.47

check my math
I am not a tutor
College Algebra - Anonymous, Saturday, May 21, 2011 at 6:46am
30000(e.055.5)

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