Ask your own question, for FREE!
Mathematics 15 Online
OpenStudy (anonymous):

So i've done this problem 3 different times and I still can't get the right answer. any help would be appeciated. You invest 10,000 dollars at 4.5\% interest. What is in your account after 20 years... (a) if compounded annually? (b) if compounded monthly. for a this is what hat i did:

OpenStudy (anonymous):

\[10,000(1+\frac{ 0.045 }{ 1 })^{1*20}\]

OpenStudy (anonymous):

which gave me 24,117.14 but it says i am wrong

OpenStudy (anonymous):

for monthly i did the same thing except I had the 12 in there and my answer was 24,544.66

OpenStudy (anonymous):

That honestly looks correct to me. I am not sure. :/ I checked your calculations and it looks like you entered everything correctly. Are you sure you have the question correct?

OpenStudy (anonymous):

yeah. i just copy and pasted the question

OpenStudy (kropot72):

How many decimal places were required for the answers?

OpenStudy (anonymous):

it doesn't say.

OpenStudy (anonymous):

check the detailed requirement, be it decimal places, rounding off etc...check n make sure u entered d right values cuz with d info u've provided, ur answer should be correct

OpenStudy (kropot72):

There is a back slash before the % sign in your question. This is wrong and could indicate there is a problem with the question.

OpenStudy (anonymous):

thanks. I think i'll probably hit up my professor during office hours and see what's up

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!