Help in business and finance

label Business
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schedule 1 Day
account_balance_wallet $5

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

Nov 3rd, 2015

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compounded quarterly,

CI = 22788.82$ , Total amount = 23788.82$

compounded monthly,

A = P(1+r/n)^nt = 1000[1+0.18/12]^12*18 = 24,926.72 $

compounded semi-monthly,

A = P(1+r/n)^nt = 1000[1+0.18/24]^24*18 = 25,226.88 $ 

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Nov 3rd, 2015

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