Sunday

April 20, 2014

April 20, 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)

**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 ...

Retirement - 1. I would like to retire in 42 years at the age of 65. The average...

Actuarial Math - Fund A accumulate at 8% effective and fund B accumulates at 10...

Finance - You wish to retire in 12 years and currently have $50,000 in a savings...

PFN2 - upon retirement in 20 years Simon plans to invest $400,000 in a fund that...

Finance - If upon retirement in 20 years Simon plans to invest $400,000 in a ...