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October 24, 2014

October 24, 2014

Posted by **Anonymous** on Tuesday, August 21, 2012 at 12:05pm.

- bussiness fianace. -
**Henry**, Thursday, August 23, 2012 at 7:23pmP = Po(1+r)^n.

r = 3% / 100% = 0.03 = Annual % rate expressed as a deciml.

n = 1Comp/yr * 3yrs = 3 Compounding periods.

P = 5000(1.03)^3 = $5463.64 in 3 yrs.

P = Po(1+r)^n.

Po = 5463.64.

r = 0.035.

n = 3.

Plug the given values into the given Eq.

Answer: P = $6057.64 In 6 yrs.

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