Find the balance on a deposit of $1,500 that earns 9% interest compounded annually for 3 years.
$1,905
$1,942
$1,953
$405

Question

Find the balance on a deposit of $1,500 that earns 9% interest compounded annually for 3 years. 
       $1,905
       $1,942
       $1,953
       $405

pixiedust1 · Answer

Okay! Using Hartnn's new formula this time :D

A=P(1+r/100)^n

hartnn · Answer

@bobsue , also reconsider your last question

pixiedust1 · Answer

Yeah, totally lol

anonymous · Answer

Im going with A because 9% of 1500 for 1 year is 135 for 3 years it would be 1905

hartnn · Answer

this one http://openstudy.com/users/bobsue#/updates/52af2067e4b0b09acc8024ab

anonymous · Answer

mmkay

anonymous · Answer

Id go with A tho just my opinion ^~^

hartnn · Answer

and i think A isn't correct

hartnn · Answer

its 1942 
if you ever see this again -_-

pixiedust1 · Answer

@hartnn 

in the formula, what does ^n represent?

pixiedust1 · Answer

I presume that P=percent and r=the 3 years

hartnn · Answer

time in number of years

pixiedust1 · Answer

Oh okay!  And p=percent.

What's r then?

hartnn · Answer

P = Principal amount = 1500 here
r = rate  = 9

pixiedust1 · Answer

Okay!  Thanks!

hartnn · Answer

look this one again too http://openstudy.com/users/bobsue#/updates/52af2067e4b0b09acc8024ab i think u got wrong answer for this..