Asked by aj
Find the value of $800 deposited in a bank at 10% interest for 8 years compounded in the following ways. (Round your answers to the nearest cent.)
(a) annually_________$
(b) quarterly_________$
(c) continuously________$
(a) annually_________$
(b) quarterly_________$
(c) continuously________$
Answers
Answered by
Steve
800(1 + .10/n)^(8n) -- periodic compounding
or
800e^(.10*8) -- continuous compounding
I'm sure you already had the formulas, so just plug in your values for n as needed
or
800e^(.10*8) -- continuous compounding
I'm sure you already had the formulas, so just plug in your values for n as needed
Answered by
IzzyGirl2904
WHAT??? :( I'm sorry, I'm only in 5th grade. I HAVE NO CLUE HOW TO DO CALCULUS! Your on your own buddy! Sorry not sorry! :(
There are no AI answers yet. The ability to request AI answers is coming soon!