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October 20, 2014

October 20, 2014

Posted by **deb** on Sunday, June 12, 2011 at 7:45pm.

- math / -
**Henry**, Tuesday, June 14, 2011 at 9:05amPt = Po*(r+1)^n.

r = (8.5%/12mo) / 100% = 0.0070833 =

MPR=Monthly Percentage rate expressed as a decimal.

n = 12comp/yr * 10yrs = 120 compounding

periods.

Pt=10,000*(1.0070833)^120 = $23,326.47.

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