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October 21, 2014

October 21, 2014

Posted by **Monic** on Friday, May 18, 2012 at 11:24pm.

- ALGEBRA -
**Henry**, Saturday, May 19, 2012 at 4:37pmP = Po(1+r)^n.

r = 21.75% / 100% = 0.2175 = Annual %

rate expressed as a decimal.

n = 1Comp./yr * 15yrs = 15 Compounding

periods.

P = 696(1.2175)^15 = $13,305.14.

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