Maths

posted by .

Suppose you were to leave $100 to be equally divided between your great great grandchildren 100 years from now. Given that you can secure annual interest at 6% pa, what would this amount be?
Find the compound interest, compounding monthly?
Please show all working out :)

  • Maths -

    amount = 100(1 + .06/12)^1200
    = ....

    you push the buttons.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. computer science

    When $1000 is deposit at 5% simple interest, the amount grows by $50 each year. When money is invested at 5% compound interest, then the amount at the end of each year is 1.05 times the amount at the beginning of the year. Write a …
  2. eco

    Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan …
  3. Alg2

    Help....Help... Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the …
  4. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money …
  5. Understanding interest rates

    What would be the diffrence in earning between simple and compound interest if your initial balance was $1,000 rather than $100?
  6. Math

    If you deposit P dollars into a bank account paying an annual interest rate r, with n interest payments each year, the amount A you would have after t years is A=P(1+r/n)^nt. Kevin places $100 in a savings account earning 6% annual …
  7. math

    Find the total number of compounding periods and interest rate per period.  Princial: $700, time period :8yrs , nomial rate: 1.5%, interest compounding :monthly, copounding amount________, compound interest_______  * i need to figure …
  8. Math (Interest)

    If I was given an amount of money for 1 month, and I wanted to compound its interest monthly, which formula would I need to use?
  9. Finance

    Please could you help me solve this Suppose you have $100 in an interest bearing account earning 10% interest. How much would you have after the first year under the following scenarios?
  10. Advanced Functions

    the compound interst forumla is A= P(1+i)^n. consider the function in the form of y= 100(1+x/2)^20, where y is the compound amount. a) determine the required annual interest rate of investment to the nearest tenth of a percentage of …

More Similar Questions