Question

You deposit $125.00 in an account earning 4.5% interest compounded monthly. How much money (principle plus interest) do you have in this account at the end of 38 months?

Answer 1

4.5% compounded monthly is i=0.045/12=0.00375 per month.
n=38 months
Present value, Pv=125
Future value,
Fv = Pv(1+i)^n

Answer 2

You deposit $125.00 in an account earning 4.5% continuously compounded interest. How much money (principle plus interest) do you have in this account at the end of 38 months?

Answer 3

you deposit $125.00 in an account earning 4.5% continuously compounded interest. How many onths does it take to double your money? That is, principle plus interest equals $250.

Answer 4

You deposit $555.00 in an account earning 5.5% interest compounded money (principle plus interest) do you have in this account at the end of 55 months?