Wednesday

September 17, 2014

September 17, 2014

Posted by **shakera** on Wednesday, August 3, 2011 at 9:26am.

P=2500, r=12%, t=20yrs, n=2

- elementary algebra -
**drwls**, Wednesday, August 3, 2011 at 9:39amThe question is about compound interest, not compounds.

n is presumably the number of interest payments per year.

If so, the balance at the end of 20 years is

P*(1 + r/n)^(n*t)

= 2500*(1.06)^40 = ?

Do the numbers. The principal will double about every 6 years, so there will be a lot more money in 20 years.

If you don't have a pocket calculator, type the experession

2500*(1.06)^40

into Google.com.

**Answer this Question**

**Related Questions**

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

College algebra - suppose you invest 2500 and earn 4.2% annual interest, ...

college math - in regard to my question find the median I put them into ...

bookkeeping - suppose your business caters a party august 23.according to the ...

Calculus - I keep getting confused on this stuff. Alan invests $2500 in a 5 year...

chemistry - What is a special group of compounds that produce H+ ions when ...

algrebra 1 - The area of a rectangle is 128 inē. If the length is twice the ...

college algebra - John invests $2500 in an account that pays a rate r compounded...

Physics - You are driving 2500 Kg car at a constant speed of 14 m/s along an icy...

statistics - At a small college it is known from previous years that 35% of all ...