Asked by J
Need help solving this problem. If there's an equation at the end, need help in how to solve that also. Compounded interest problem.
Principal $825. Rate 4%. Compounded Annually. Time 10 years.
Principal $825. Rate 4%. Compounded Annually. Time 10 years.
Answers
Answered by
MathMate
What is required?
Try:
Amount=Principal(1+rate)^(number of periods)
For example:
amount = 825*(1+0.04)^10
Try:
Amount=Principal(1+rate)^(number of periods)
For example:
amount = 825*(1+0.04)^10
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