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August 22, 2014

August 22, 2014

Posted by **Tee** on Thursday, June 27, 2013 at 10:22pm.

- Business Math -
**Henry**, Saturday, June 29, 2013 at 3:00pmP = Po(1+r)^n.

Po = $1,000,000.

r = (8%/4)/100% = 0.02 = Quarterly % .rate expressed as a decimal.

n 4Comp./yr. * 8trs = 32 Compounding

periods.

Plug the above values into the given Eq and solve for P.

I = P-Po.

- Business Math -
**Henry**, Saturday, June 29, 2013 at 3:05pmCORRECTION: n = 4Comp./yr. * 1yr. = 4

Compounding periods.

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