Posted by **A** on Monday, December 3, 2012 at 6:39pm.

The year he turned 18, Thomas Edison invested 0.8% compounded hourly. How much money would the account have now? Explain all steps. Be sure to include an explanation of how you found out when Edison turned 18 and how you calculated n. Part of the credit is for your explanation, it should be thorough.

- College Algebra -
**A**, Monday, December 3, 2012 at 6:44pm
Here is what I did so far:

FV = P(1 + r/n)^(t*n)

FV = 200,000 (1 + 0.008/8760)^(147*8760)

FV = 200,000

Can you please tell me if I'm on the right track? I don't understand why I am getting the same number that I started with. Unless that is the correct answer?

## Answer this Question

## Related Questions

- MATH!! - Joe and Susan invested $1500 at Bank of America in 2000, at 4% ...
- maths - How much money will I need to have at retirement so I can withdraw $60,...
- math - Yumi's grandparents presented her with a gift of $11,000 when she was 8 ...
- math - Barry heard in his Personal Finance class that he should start investing ...
- algebra 2 - Jennifer invested $2,500 in an account earning 3.5% interest ...
- algebra - Jennifer invested $2,500 in an account earning 3.5% interest ...
- College Algebra - Write an equation for the amount of money, A, that we would ...
- contemporary math - Quinn and Julius inherited $50,000 each from their great-...
- College Algebra - Write an equation for the amount of money, A, that we would ...
- math - How much more money would I have if I invested $14,000.00 for 8 years at ...