# Algebra 106

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\$625.00 investested in retirement fund for 10 years @ 3.84% compounded

• Algebra 106 -

625(1+.0384)^10 = 911.02
if compounded annually

• Algebra 106 -

Steve, if compounded monthly for 10 yeays how do i calculate it

• Algebra 106 -

Just alter the formula -- divide the interest rate so it applies monthly, then multiply the number of compounding periods. Surprised you didn't know that, presumably having studied the material . . .

625(1+.0384/12)^(12*10)

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