Question

47628387 x6

Answer 1

P = $1000
r = 5%
t = 10 yrs
n = number of times the interest is compounded per year
\[A = P(1+r/n)^{nt}\]

Answer 2

whats n??

Answer 3

huh?

Answer 4

is that not right?

Answer 5

account that pays 5% interest compounded continuously,
does this means that the sum is compounded per month?

Answer 6

http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php

Answer 7

I guess...

Answer 8

Sorry I got it wrong
compounded continuously means compounded daily
thus n = 365
\[A = 1000(1+5/365)^{365*10}\]

Answer 9

what is that sign?

Answer 10

multiply (365*10)

Answer 11

correct