Question

@SmoothMath @Psymon @jim_thompson5910 @ganeshie8

Answer 1

use the formula

FV = P(1+r/n)^(n*t)

in this case

P = 3000
r = 0.06
n = 12
t = 5/12

Answer 2

confused

Answer 3

plug in each value and evaluate to get the answer

Answer 4

3015

Answer 5

you're a bit short, the answer should be slightly larger

Answer 6

wym?

Answer 7

the answer is not 3015

Answer 8

how do i get it

Answer 9

what did you type in

Answer 10

i did the formula

Answer 11

in terms of numbers, what did you type in

Answer 12

3000(1+0.06/12)^12*5/12

Answer 13

make sure the 12*5/12 is in parenthesis

Answer 14

so it should look like this 3000(1+0.06/12)^(12*5/12)

Answer 15

3075

Answer 16

very very close

Answer 17

you're off by some amount smaller than $1

Answer 18

3075.75

Answer 19

perfect

Answer 20

thank you:)

Answer 21

you're welcome