If $600 is invested at an interest rate of 2.5% per year, find the amount of the investment at the end of 10 years for the following compounding methods:

a) annually
b) semiannually
c) quarterly
d) continuously

Question

If $600 is invested at an interest rate of 2.5% per year, find the amount of the investment at the end of 10 years for the following compounding methods:

a) annually 
b) semiannually 
c) quarterly 
d) continuously

anonymous · Answer

$$600\times (1.025)^{10}$$

$$600\times (1+\frac{025}{2})^{20}$$
$$600\times (1+\frac{025}{4})^{40}$$
$$600\times e^{.25}$$

anonymous · Answer

typo there
middle two are 
$$600\times (1+\frac{.025}{2})^{20}$$
$$600\times (1+\frac{.025}{4})^{40}$$

anonymous · Answer

calculator for the result

anonymous · Answer

thank you

anonymous · Answer

yw

anonymous · Answer

here is the third one http://www.wolframalpha.com/input/?i=600%281%2B.025%2F4%29^40

anonymous · Answer

second one http://www.wolframalpha.com/input/?i=600%281%2B.025%2F2%29^20

anonymous · Answer

fourth one http://www.wolframalpha.com/input/?i=600e^.25 you can see that they are close