Math Help?
Anton open a reserves narrative next to $750.00. The narrative pays 6% interest compounded quarterly. If he make no other deposits or withdrawal, how much will Anton own surrounded by his narrative after 9 months?
Answers:
6% annual interest compounded quarterly manner it pays 1.5% respectively quarter, so:
$750 x 1.015 x 1.015 x 1.015 = $784.26
It depends on how much the hill charges (subtracts) surrounded by fees.
While Dan is really correct, the formula that you want to remeber is as follows:
FV=PV(1+(r/d))^t
where on earth variables are as follows...
FV- Future Value
PV- Present Value
r- annual interest rate, compounded over a given period
d- that number of time period surrounded by a year that we are compounding per
t- the number of time period that the money will be surrounded by the sketch.
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Answers:
6% annual interest compounded quarterly manner it pays 1.5% respectively quarter, so:
$750 x 1.015 x 1.015 x 1.015 = $784.26
It depends on how much the hill charges (subtracts) surrounded by fees.
While Dan is really correct, the formula that you want to remeber is as follows:
FV=PV(1+(r/d))^t
where on earth variables are as follows...
FV- Future Value
PV- Present Value
r- annual interest rate, compounded over a given period
d- that number of time period surrounded by a year that we are compounding per
t- the number of time period that the money will be surrounded by the sketch.