Monday

March 2, 2015

March 2, 2015

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)

**Answer this Question**

**Related Questions**

Algebra business - Diane contributes $625 at the end of each month to ...

ctu - Diane works at a public university. She contributes $625 at the end of ...

Math - A company contributes $170 per month into a retirement fund paying 4.20% ...

Math - A company contributes $170 per month into a retirement fund paying 4.20% ...

math - diane works at a public university and contributes $625 per month in her ...

Differential Equations - A college professor contributes $5,000 per year into ...

Finance - Simon wishes to have $400,000 in a retirement fund 20 years from now. ...

business math - if I deposited $625 in a retirement account per month and it had...

math - Djer invests $5000 each year into a mutual fund earning 6.15% compounded ...

accounting - Jesper Parnevik borrowed $70,000 on March 1, 2012. This amount plus...