Thank you for the opportunity to help you with your question!
A = P(1 + r/n)nt
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period
For semi-monthly n= 24/18 and A = $ 25,226.89 For Monthly n=12/18 A = $ 24,926.72 For Weekly n= 52/18 and A = $ 25,391.26 For Daily n= 360/18 and A = $ 25,513.05Let me know incase you need any further help ! Thanks :)
Nov 4th, 2015
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