Question
3000 for 3 years at 1.8% compounded monthly
Answers
Henry
P = Po(1+r)^n
Po = $3,000
r = 1.8%/12/100% = 0.0015.
n = 12Comp./yr. * 3yrs. = 36 Compounding
periods.
Solve for P.
Po = $3,000
r = 1.8%/12/100% = 0.0015.
n = 12Comp./yr. * 3yrs. = 36 Compounding
periods.
Solve for P.