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October 24, 2014

October 24, 2014

Posted by **Meredith** on Saturday, July 14, 2012 at 12:25am.

- Math -
**Henry**, Sunday, July 15, 2012 at 9:26pmP = Po(1+r)^n.

Po = $3500.

r = (11% / 12) / 100% = 0.0091667 =

Monthly % rate expressed as a decimal.

n = 12Comp,/yr * 3yrs = 36 Compounding

periods.

Plug the above values into the given Eq

Answer: $4861.08.

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