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October 24, 2014

October 24, 2014

Posted by **Sonya** on Saturday, November 10, 2012 at 10:41am.

- Algebra 106 -
**Steve**, Saturday, November 10, 2012 at 10:49am625(1+.0384)^10 = 911.02

if compounded annually

- Algebra 106 -
**Sonya**, Saturday, November 10, 2012 at 6:30pmSteve, if compounded monthly for 10 yeays how do i calculate it

- Algebra 106 -
**Steve**, Saturday, November 10, 2012 at 8:19pmJust alter the formula -- divide the interest rate so it applies monthly, then multiply the number of compounding periods. Surprised you didn't know that, presumably having studied the material . . .

625(1+.0384/12)^(12*10)

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