How much would $200 invested at 6% interest compounded annually be worth after 6 years? Round your answer to the nearest cent. Do not include units in your answer.

Question

anonymous · Answer

283.70

anonymous · Answer

The formula is A=P(1+r/n)^(nt)   where A is the final amount, P=principal or starting amount, r= rate as a decimal.  n= number of compounding periods per year  t=number of years

anonymous · Answer

i know he equation but each time i do it my answer is always wrong

anonymous · Answer

meant *the

anonymous · Answer

r = 0.06
n = 1
t = 6
P = 200

A = 200(1 + 0.06)^6

= 200(1.06)^6

anonymous · Answer

A=200(1+0.06)^6
A=200(1.06)^6
A=200(1.4185)=283.70

anonymous · Answer

Make sure you follow the order of operations

anonymous · Answer

How much would $500 invested at 6% interest compounded monthly be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.

anonymous · Answer

500(1 + 0.06/12)^(12*4)

= 500(1.005)^48

anonymous · Answer

jamesm, your a genius

anonymous · Answer

How much would $300 invested at 4% interest compounded monthly be worth after 8 years? Round your answer to the nearest cent. Do not include units in your answer.

anonymous · Answer

300*(1 + 0.04/12)^(12*8)

lol

anonymous · Answer

i am not a genius, i just know the formula

anonymous · Answer

412.92

anonymous · Answer

How much would $500 invested at 5% interest compounded annually be worth after 10 years? Round your answer to the nearest cent. Do not include units in your answer.
sorry to bother yall but this is the last one

anonymous · Answer

skittlzs, not to be rude, but, have you learned how to do these problems by now?

anonymous · Answer

no, every time i i try it then comare to yall my answers r somehow way off
i do the steps but i dont know wat im doing wrong

anonymous · Answer

814.45

anonymous · Answer

well, have a go at the latest one. A = P(1 + r/n)^(nt)

anonymous · Answer

i got 819.30

anonymous · Answer

how? tell me what you put into the calculator

anonymous · Answer

wat am i doing wrong?

anonymous · Answer

i do the parenthesis first, giving me 1.025. then i multiple 500*(1.025)^20. giving me 819.30

anonymous · Answer

that's because it's not 1.025. it's 1.05

and it's not 20. it's 10.

anonymous · Answer

ehhhhhhh? how?!?!

anonymous · Answer

because it's compounded annually, so n = 1

t = 10

r = 0.05, P = 500

anonymous · Answer

well i feel stupid. i put n=2

anonymous · Answer

jamesm, i appreciate your help. i really do. hope to see you around and maybe one day i can repay the favor