Posted by Sonya on Saturday, November 10, 2012 at 10:41am.
$625.00 investested in retirement fund for 10 years @ 3.84% compounded

Algebra 106  Steve, Saturday, November 10, 2012 at 10:49am
625(1+.0384)^10 = 911.02
if compounded annually

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

Algebra 106  Steve, Saturday, November 10, 2012 at 8:19pm
Just 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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