I need help with a math problem. It says How much money will there be in an account at the end of 10 years if 3000 dollars is deposited at 6 percent interest. It wants to know annunally, semi-annually, quarterly, and daily.
+130547 Here is the annual amount
A = 3000(1 + .06)^10 = 3000(1.06)^10 = ???
Here is the semi-annual amt
A = 3000(1 + .06/2)^(10*2) = 3000(1.03)^(20) = ???
Quarterly
A = 3000(1 + .06/4)^(10*4) = 3000(1 + .015)^(40) = 3000(1.015)^(40) = ???
Daily
A= 3000(1 + .06/365)^(10*365) = 3000(1 + .06/365)^(3650) = ???
I'll let you evaluate the amounrs for yourself.......make sure to do the things in the parentheses, first......then the exponent on that.....then....multiply by 3000
+130547 Here is the annual amount
A = 3000(1 + .06)^10 = 3000(1.06)^10 = ???
Here is the semi-annual amt
A = 3000(1 + .06/2)^(10*2) = 3000(1.03)^(20) = ???
Quarterly
A = 3000(1 + .06/4)^(10*4) = 3000(1 + .015)^(40) = 3000(1.015)^(40) = ???
Daily
A= 3000(1 + .06/365)^(10*365) = 3000(1 + .06/365)^(3650) = ???
I'll let you evaluate the amounrs for yourself.......make sure to do the things in the parentheses, first......then the exponent on that.....then....multiply by 3000
