Monday

December 22, 2014

December 22, 2014

Posted by **tony** on Wednesday, July 13, 2011 at 8:33pm.

Find the amount in the bank after 12 years if interest is compounded quaterly

Find the amount in the bank after 12 years if interest is compounded monthly

Finally, find the amount in the bank after 12 years if interest is compounded continuously

- Math -
**Damon**, Wednesday, July 13, 2011 at 9:14pm12 years 3000 *1.06^12

12*4 = 48 quarters

.06/4 = .015

so

3000 * 1.015^48

12*12 = 144 months

.06/12 = .005

3000 * 1.005^144

dx/dt = .06 x

dx/x = .06 dt

ln x = .06 t

x = Xo e^.06 t

x = 3000 e^(.06*12)

**Answer this Question**

**Related Questions**

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

Calculus Please help! - If 7000 dollars is invested in a bank account at an ...

Calculus :) - If 8000 dollars is invested in a bank account at an interest rate ...

Calculus :) - If 8000 dollars is invested in a bank account at an interest rate ...

Alg 2 - Suppose you deposit a principal amount of p dollars in a bank account ...

Alg2 - Help....Help... Suppose you deposit a principal amount of p dollars in a ...

math - Suppose $5000 is deposited in a bank account that compounds interest four...

math - Suppose $5000 is deposited in a bank account that compounds interest ...

calculus - Suppose $5000 is deposited in a bank account that compounds interest ...

Precalculus - NEED HELP ASAP PLEASE!! A savings account starts with $600 and ...