p=$1000,r=5.0%,t=15months

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Guest Jun 30, 2014

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Jboy is right we do need to know the compounding period.

But also you have said 5%. I assume that this is per year but you have not specified this.

so you need 5%p.a. is this is what you mean.

Melody Jul 1, 2014

Melody · Answer 1 · 2014-07-01T03:05:20

Jboy is right we do need to know the compounding period.

But also you have said 5%. I assume that this is per year but you have not specified this.

so you need 5%p.a. is this is what you mean.

jboy314 · Answer 2 · 2014-06-30T07:03:06

The only thing missing here is the frequency of compunding. Are you compounding monthly? yearly? continuously?