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How do you calculate compound interest in foxpro?
Example: Start_Capital = 10000 Interest_Rate = 5 && Percent per year or other period Periods = 10 && Years or other periods End_Capital = Start_Capital * (1 + Interest_Rate/100)^Periods
What is the formula to find an APY?
APY = (1+ period rate)# of period - 1 Where period rate = APR / # of compounding periods in a year
What is the inside diameter of a hydraulic tube with the outside diameter of 1 inch?
Less than an inch.
What is 1 and 1 half equaled to in metric?
It is still 1 and 1 half.
Need Help With Algebra 2 HW ASAP Suppose you have a 200000 home loan with an annual interest rate of 6.5 percent compounded monthly If you pay 1200 per month what balance remains after 20 years?
The balance is 129178. -------------------- Looking at the amount remaining on the Capital (C) at a rate of r with a repayment of P, there is: After 1 period: Cr - P After 2 periods: (Cr - P)r - P = Cr^2 - Pr - P = Cr^2 - P(r + 1) After 3 periods: ((Cr - P)r - P)r - P = Cr^3 - Pr^2 - Pr - 1 = Cr^3 - P(r^2 + r + 1) After n periods: Cr^n - P(r^(n-1) + r^(n-2) + ... + r + 1) The sum in the brackets that multiplies the repayment P is a geometric progression, which has sum: sum = (r^n - 1) / (r - 1) → the amount remaining after n periods is given by remaining = Cr^n - P (r^n - 1) / (r - 1) With an APR of 6.5%, the yearly rate is 1 + 6.5/100 = 1.065 Compounded monthly, to get the same amount after one year the monthly rate is 1.065^(1/12) ≈ 1.00526 (a monthly percentage rate of approx 0.526%) For 20 years, there are 12 x 20 = 240 monthly periods → amount remaining ≈ 200,000 x (1.00526)^240 - 1,200 x (1.00526^240 - 1) / (1.00526 - 1) ≈ 129,177.88 ≈ 129,178
