Wednesday

April 16, 2014

April 16, 2014

Posted by **Pat** on Wednesday, April 18, 2012 at 5:53pm.

I know it earns $60 a yr. but I am lost after that.

- Math -
**Henry**, Friday, April 20, 2012 at 8:18pmP = Po(1+r)^n.

r = 6% / 100% = 0.06 = Annual % rate expressed as a decimal.

n = 1comp./yr * 18yrs = 18 compounding

periods.

P = 1000(1.06)^18 = $2854.34

**Related Questions**

math - Suppose that you were saving money over 5 years to use in a purchase ...

Finance - Please help me out this problem! :) suppose that I buy a 10 yr bond ...

Math - If you buy a $1395 savings bond that pays 4.3% annual simple interest. ...

Math - Suppose you buy a $1395 savings bond that pays 4.3% annual simple ...

Math - SIMPLE INTEREST kelsie has an $800 savings bond which she has had for 2 1...

Finance - A three-year bond has 8.0% coupon rate and face value of $1000. If the...

Finance - A three-year bond has 8.0% coupon rate and face value of $1000. If the...

Math - 1. Jill has a bond with a face value of $1,000. The bond has a coupon ...

Finance - A comp. has issued a bond with the following characteristics: ...

Finance (Check Answer plz) - A comp. has issued a bond with the following ...