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January 31, 2015

January 31, 2015

Posted by **Taylor** on Monday, January 10, 2011 at 9:37pm.

Please answer ASAP, thanks.

- math -
**helper**, Monday, January 10, 2011 at 10:08pmhow is the interest compounded?

ie, daily, quarterly, semiannually, annually, or ?

- math -
**Taylor**, Monday, January 10, 2011 at 10:15pmI'm not sure, the question doesn't say anything about that specifically, but I'm guessing it's annually?

- math -
**helper**, Monday, January 10, 2011 at 10:59pmA(t) = P (1 + r/n)^nt

A(10) = 5000 ( 1 + .08/1)^1*10

A(10) = 5000 ( 1.08)^10

A(10) = 5000 ( 2.15892 )

A(10) = 10,794.60

5000 + 10794.60 = 15794.60

I'm not a tutor, but I've done this type

problem here before

- math -
**Taylor**, Monday, January 10, 2011 at 11:29pmThank you!

- math -
**helper**, Monday, January 10, 2011 at 11:41pmyou're welcome!

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