algebra

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If $32,500 is invested at 69% for 3 years find the future value if the interest is compounded the following ways.
annually, semiannually, quarterly, monthly, daily, every minute (N-525,600)
continuously, simple (not compounded.

Thank you for your time.

  • algebra -

    Po = $32,500 @ 69%? for 3 years.

    P1 = Po(1+r)^n. Compounded annually.
    P1 = 32,500(1+0.69)^3 = $156,871.29

    P2 = 32,500(1+0.69/2)^6 = 192,405.32

    P3 = 32,500(1+0.69/4)^12 = 219,400.48

    P4 = 32,500(1+0.69/12)^36 = 243,207.46

    P5 = 32,500(1+0.69/365)^1095=257,053.95

    P6 = 32,500(1+0.69/525,600)^1,576,800 =
    257,556.40

    P7 = Po*e^(r*t) = 32,500*e^(0.69*3) =
    257,556.75

    P8 = Po + Po*r*t=32000 + 32,500*0.69*3 = 98,240. Simple Int.

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