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December 21, 2014

December 21, 2014

Posted by **YOU** on Monday, February 11, 2013 at 12:42am.

- math -
**Henry**, Tuesday, February 12, 2013 at 8:19pmP = Po(1+r)^n.

Po = $15000.

r = (6%/4) / 100% = 0.015 = Quarterly %

rate expressed as a decimal.

n = 4Comp/12mo. * 27mo = 9 Compounding

periods.

Plug the above values into the given Eq

and get:

P = $17,150.85

I = P-Po

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