7% compound interest means that the amount of money increases, every year, by a factor of 1.07. After 4 years, you have 300 x 1.07^4.
It would be 393.24
$396.93 -Apex
First include a unit of currency. I will use pounds, but if the answer is in dollars, simply replace the sign at the front of this sum to a dollar sign. The sum you are looking for is: £120000 x 1.0410 Rounded to the nearest penny (or cent, as appropriate), this is equal to £177629.31.
Not normally
No, this is an "expression". An equation would include an equal sign, for example:2x + 5 = 11No, this is an "expression". An equation would include an equal sign, for example:2x + 5 = 11No, this is an "expression". An equation would include an equal sign, for example:2x + 5 = 11No, this is an "expression". An equation would include an equal sign, for example:2x + 5 = 11
I dunno an who cares! we use closed circles when we include the number on which it is and if we dont want to include it then we use open circle
Parts include the index, the radicand, and the radical.
610.5
814.45
187.32
1006.10
Plugging the numbers into the compound interest formula, and rounding to two decimal places: 120 x (1 + (6/100))21 = 407.95 Don't forget to include the appropriate currency symbol in your answer.
705.79
125 x (1.08)^14 = 367.15 If 125 is in cents, then to the nearest cent it is 367 If 125 is in dollars, then to the nearest cent it is as above, namely 367.15
Unless I miss my guess, this certainly sounds like a test question or a homework assignment to me. If that's true, then it has no place here. This site doesn't do your homework for you. That would be mean and cruel,. since it would steal a chance to learn something from you.
The amount of a loan or investment that does not include interest. It's the amount borrowed, or the amount currently owed in a loan (including mortgages) and the amount invested (for investments.)
The amount of a loan or investment that does not include interest. It's the amount borrowed, or the amount currently owed in a loan (including mortgages) and the amount invested (for investments.)
"Continuously" is exactly how this question arrives on WikiAnswers. Someone has distributed an exam or a homework assignment with a poorly written question on it, and a lot of people are coming here to get the answer. WikiAnswers is not here to answer exam or homework questions. But the best response to this one isn't a numerical 'answer'. It's this: There's no such thing as "compounded continously", even if the spelling were corrected. The compounding interval must be specified, no matter how short it may be. Popular compounding intervals include: Annually, semi-annually, quarterly, monthly, weekly, or daily. Technically, it could even be hourly, or minutely, but it has to be specified. Compounding is a discrete process, and can never proceed "continuously".
Although Microsoft excel does not include a function for determining compound interest , you can use following formula for this calculation.=PV*(1+r)^NWhere PV = Present Valuer = Interest RateN = No of investment period.E.g1000 is deposit amount at 10% interest for 5 years, then formula is=1000*(1+0.10)^5The answer will be 1,610.51