Question

If you invested $10,000 at 6.8% compounded monthly for five years, what would be your ending balance?

Answer 1

\[A=P(1+r/n)^{nt}\]

Answer 2

P is your principal investment
r is the rate
n is the number of times it compounds in a given period
t is the number of periods ....
A is the answer

Answer 3

Soo.

Answer 4

Let me solve it, hold on.

Answer 5

A = 12102.32 @amistre64 ?

Answer 6

let me check with the wolf :)

Answer 7

Haha, okay. :P

Answer 8

just a little off, make sure n=12, and r = .068

Answer 9

http://www.wolframalpha.com/input/?i=10000%281%2B.068%2F12%29%5E%2812*5%29

Answer 10

Ohhh. I did 0.68. xD

Answer 11

I got it.

Answer 12

Thank you!

Answer 13

good luck :)

Answer 14

Thank you.