helpidkwhatimdoingwrong

This page lists questions and answers that were posted by visitors named helpidkwhatimdoingwrong.

Questions

The following questions were asked by visitors named helpidkwhatimdoingwrong.

P= $12,000, r=5, t=10 1/2 (which I then converted into 21/2), compounded monthly According to my textbook the formula is A= P(1+r/m) t*m Since it is monthly, m=12 I set up my equation as 12,000 (1+0.05/4)^42 (I got 42 by multiplying 21/2 by 4) and got 12,...
6 years ago

Answers

The following answers were posted by visitors named helpidkwhatimdoingwrong.

Oh wait. I did the equation in the wrong order. I am supposed to start with 1+0.05/4 then the answer^42 then multiply that by 12,000. Nevermind. Foolish mistake.
6 years ago