Wednesday

July 30, 2014

July 30, 2014

Posted by **rose.m** on Thursday, May 26, 2011 at 6:20pm.

- business maths -
**MathMate**, Thursday, May 26, 2011 at 11:05pmCompound interest

=P[(1+r)^n-1]

where

P=present value

r=rate of interest per period = 0.06/4 = 0.015

n=number of periods = 5*4 = 20

Compound interest

=35000(1.015^20-1)

=?

- business maths -
**Answer**, Monday, October 10, 2011 at 9:38amCompound Interest:

P x (1+r/100)^n

(where

P= Principal (present value)

r= Rate of interest

n= number of periods {20[4(quarterly)*5]}

)

Working:

35000 X (1+6/100)^20

=112249.7415

≈112249.74

ANS: $112249.74

**Related Questions**

Kirr - *solve execises by using compounded interest formula Principal $ 700 ...

Compound interest - Hello My teacher skipped over this and I have no clue how to...

pre-calculus - find (a) the compound amount and (b) the compound interest for ...

maths - simple interest and compound interest on what sum will the compound ...

maths - 1. Find the amount and the compound interest on rs.12800 for 1 year at ...

Compound math - (Future Value) Suppose you invest $8000 into an account that ...

maths-- compound interest - find the compund interest on $2500 for one year at 4...

Business Math - How to determine the compound amount of an investment of $10,000...

Business Math - To determine the compound amount of an investment of $10,000 ...

Compound Interest - Payments of $1,800 and $2,400 were made on a $10,000 ...