Question

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Answer 1

For the first one: we need to use compound interest \[P(1+\frac{ r }{ n})^{nt}\]

Answer 2

I greatly appreciate that thank you very much!

Answer 3

yep. just remember n is the number of times it's compounded yearly. so we also need to multiply that by the number of years that have gone by that's why we get n*t

so

quarterly means it's compounded 4 times a year

\[\frac{ r }{ n } = \frac{ 0.08 }{ 4 }\]

what about the rest?

Answer 4

\[1,000*(1+\frac{ 0.08 }{ 4 })^{4*2} = $1172\]

Answer 5

@PixieDust1 can you set up the second one for me? it's also compound interest

Answer 6

be careful how you put it into the calculator

Answer 7

nice set up. hey you can do what's in the ( ) first

Answer 8

3,128.62

Answer 9

yeah you are correct. you know what to do now! good job

Answer 10

no problem :)