# Help in business and finance

Anonymous
account_balance_wallet \$5

### Question Description

\$1,000 at 18% interest rate for 18 years, compounded quarterly, semi-monthly, and monthly.

ipesuni
School: UT Austin

We have the formula as

Here we have to calculate the amount A.

P=\$1000

r=18%=.18

n=Number of compounding.For quarterly n=4,semiannually n=2 and monthly n=12,semimonthly,n=24

a)Compounded quarterly ,n=4

b)Compounded semi monthly ,n=24

c)compounded monthly ,n=12

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Review

Anonymous
awesome work thanks

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