Posted by someone on Saturday, May 12, 2012 at 3:28am.
Hello My teacher skipped over this and I have no clue how to do this or the equations. Help would be wonderful thank you
If 6000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 15 years if interest is compounded annually
Find the amount in the bank after 15 years if interest is compounded quaterly
Find the amount in the bank after 15 years if interest is compounded monthly
Finally, find the amount in the bank after 15 years if interest is compounded continuously

Compound interest  Steve, Saturday, May 12, 2012 at 5:08am
annually: 6000(1+.1)^15 = 25,063.49
qly: 6000(1+.1/4)^(15*4) = 26,398.74
mly: 6000(1+.1/12)^(15*12) = 26,723.51
cont: 6000*e^(.1*15) = 26,890.13

Compound interest  Anonymous, Monday, June 17, 2013 at 11:08pm
What is the future value of $800 invested for 14 years at 11 percent compounded annually
Answer This Question
Related Questions
 Social Studies  I was wondering if I could check my answers with someone. I'm a...
 SS  Rohan has 100 dollars that he wants to save in a bank. Bank A offers two ...
 Math  If you deposit P dollars into a bank account paying an annual interest ...
 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  how much money would have to be invested in an account at 3.98% annual ...
 math  If 3000 dollars is invested in a bank account at an interest rate of 9 ...
 Math  A bank offers two interest account plans. Plan A gives you 6% interest ...
 math  I have been staring at this problem forever, and cant seem to dig it up ...
 Calculus Please help!  If 7000 dollars is invested in a bank account at an ...
More Related Questions