What is $900 for 30 months at 5.8% pa equals?

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Guest Mar 18, 2015

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Best Answer

Use the compoound interest formula but remember that

n is the number of compounding periods = 30

and

r is the interest rate as a decimal for each of these. 0.058/12 = 0.00483 repeater

Now just plug the numbers in

$$FV=PV(1+r)^n$$

Melody Mar 19, 2015

Melody · Answer 1 · 2015-03-19T08:23:00

Use the compoound interest formula but remember that

n is the number of compounding periods = 30

and

r is the interest rate as a decimal for each of these. 0.058/12 = 0.00483 repeater

Now just plug the numbers in

$$FV=PV(1+r)^n$$