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April 21, 2014

April 21, 2014

Posted by **artyst** on Monday, July 1, 2013 at 6:46am.

- compound interest math -
**MathMate**, Monday, July 1, 2013 at 9:01amcalculate the compound interest on an investment of $45,000 at 6% interest compounded quarterly fro 3 years

Formula for compound interest:

A=P(1+i)^n

A=amount at the end of n periods (future value)

P=amount invested (present value)

i=interest per compounding period. 6% per annum is equivalent to 1.5% per 3 months, the compounding period.

n=number of periods.

Use your calculator to find

A=45000(1+0.015)^(3*4)

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