Calculus

I'm having trouble trying to figure this problem out, I know the variables of the problem but I don't seem to get the right answer here is the formula that i'm using: A = P (1 + r/n)^n * t. Here is the problem:

If Joe deposits $12,000 into an account that yields 3% annual interest, how much will be in the account after 5 years if interest is compounded: quarterly.

I get around 13,000 but the answer is for 14,000, can anyone tell me what I'm doing wrong?

12000*(1+.03/4)20= about 14000

  1. 👍 0
  2. 👎 0
  3. 👁 184
asked by Vesone

Respond to this Question

First Name

Your Response

Similar Questions

  1. calculus

    I am working on this problem and having some trouble. We're supposed to use partial fractions. The problem is: integral of dx / (x^6-1) . I got the values of A and D, but I am having trouble with the others. Help please!

    asked by Liz on January 22, 2009
  2. Physics...Help please

    The problem is from fundamentals of physics 9th edition by halliday. Here is a free download of the book since I couldn't post the graph (I had to write out link since site doesn't allow links to be posted): tripplew period

    asked by Linda on September 23, 2011
  3. Driver Education (Check)

    How would you recognize the signs of a problem drinker, and what you do to help that person? A: You would recognize the signs of a problem drinker by looking for chances in a person’s behavior or life situation such as loss of

    asked by Victoria on February 18, 2016
  4. Math 141

    I am having trouble with this problem. perform the indicated operations and simpily the result as much as possible a) (3x - 2) (x^2 + 2x - 4 ) the answer i got so far is 3x^3 + 4x^2 -16x + 8. Am i done or i have to conitnue to

    asked by John Terry on April 7, 2012
  5. Algebra

    I am having trouble with the following problem can someone please help me to figure out how to work it..... -8x-21= -23 2/3

    asked by Ann on May 22, 2008
  6. Algebra 2

    6x=9y-21. 6y=4x+14 plz help...I can't figure out how to do this problem using linear equations with two variables

    asked by Matt on September 11, 2011
  7. AP Physic

    Hi there I am having a lot of trouble trying to figure out this homework problem and I really need help. This problem is dealing with wave motion and I do not know how to set up the formula to get the correct answer. Please help

    asked by shylo on January 16, 2010
  8. Physics

    Please help!!! Physics test!? I have a physics test tomorrow on projectile motion, and I don't feel ready for it. I'm having trouble in the class and I need to ace this test. The problem is I get confused when I get a problem. I

    asked by Mike on October 9, 2012
  9. Algebra

    I was given this problem to solve and no matter what order I multiply the variables I don't get the right answer. 27xy, when x=12.7 and y=100.4 the answer is 34,427.16 I cannot figure out the way to achieve this answer. I find

    asked by Aria on April 15, 2011
  10. math

    posting again. my daughter is having trouble in input output finding the rule. we have done all the problem but one. cant figure out due in morning!!! whats the rule for problem input3 output9 input4 output16 input blank output25

    asked by lillie on May 23, 2013

More Similar Questions