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August 28, 2014

August 28, 2014

Posted by **Britney** on Saturday, November 24, 2012 at 2:33pm.

$ ?

- math -
**Henry**, Saturday, November 24, 2012 at 8:28pmP = Po(1+r)^n.

P = $39,396.92.

Po = ?.

r = (3%/12) / 100% = 0.0025 = Monthly %

rate expressed as a decimal.

n = 12Comp/yr * 8yrs = 96 Compounding

periods.

P = Po(1.0025)^96 = $39,396.92

Po*1.27087 = 39,396.92

Po = $31,000.00 = Initial deposit.

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