$1000 is invested at the beginning of each year for 10 years. The rate of interest is fixed at 7.5% per annum. Interest is compounded annually. Calculate the total value of the investments at the end of the ten years.

Question

anonymous · Answer

How did you get this Steven?

anonymous · Answer

What if google answer was not available when you are taking the test? =.=

mindblast3r · Answer

Then the person can use a calculator!

mindblast3r · Answer

A scientific calculator.

anonymous · Answer

What if you had one but you didnt know how to do it?

mindblast3r · Answer

Omg! It's so simple that it would be hard to explain how to put the equation down on the calculator.

mindblast3r · Answer

harder*

anonymous · Answer

What I meant is, it would be nice if you explain with the formula.

mindblast3r · Answer

Oh your right. I'll do it next time.

anonymous · Answer

Why not now?

mindblast3r · Answer

Just kidding.

mindblast3r · Answer

http://qrc.depaul.edu/studyguide2009/notes/savings%20accounts/compound%20interest.htm

mindblast3r · Answer

There. This is the compound interest formula.

mindblast3r · Answer

Everything you need to know is in this link.

anonymous · Answer

Delete that comment will you ? =.=

mindblast3r · Answer

?