Help in business and finance

Anonymous
timer Asked: Nov 3rd, 2015
account_balance_wallet $5

Question Description

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

Tutor Answer

ipesuni
School: UT Austin

Thank you for the opportunity to help you with your question!

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



Please let me know if you need any clarification. I'm always happy to answer your questions.

flag Report DMCA
Review

Anonymous
awesome work thanks

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors