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	Math Help Forum > University Math Help > Business Math Compound interest User Name Save? Password Register Forum Rules FAQ Donate Members List Arcade Download MHF Flyer Search Today's Posts Mark Forums Read   Thread Tools Display Modes   #1   October 31st, 2009, 09:24 PM chika Newbie   Join Date: Oct 2009 Posts: 13 Thanks: 0 Thanked 0 Times in 0 Posts Compound interest A family invests $4000 in an account paying 6% compounded monthly. How much is in the account after 5 years? Advertisement     #2   October 31st, 2009, 10:14 PM Wilmer Super Member   Join Date: Dec 2007 Location: Ottawa Posts: 529 Country: Thanks: 0 Thanked 90 Times in 85 Posts Quote: Originally Posted by chika A family invests $4000 in an account paying 6% compounded monthly. How much is in the account after 5 years? F = A(1 + i)^n F = Future value (?) A = Amount invested (4000) n = number of months (60) i = interest factor (.06 / 12) Were you given that problem without being given the formula? __________________ I'm a social drinker; when someone says "I'm having a drink", I answer "so shall I". « Expected utility & Insurance (for risk adverse individuals)? | Top | Finance Help - Stock Price » Thread Tools Show Printable Version Email this Page Display Modes Linear Mode Switch to Hybrid Mode Switch to Threaded Mode Posting Rules You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are Off Pingbacks are Off Refbacks are Off Forum Jump User Control Panel Private Messages Subscriptions Who's Online Search Forums Forums Home Pre-University Math Help     Pre-Algebra and Algebra     Geometry     Trigonometry     Pre-Calculus     Basic Statistics and Probability     Other topics University Math Help     Calculus     Analysis, Topology and Differential Geometry     Linear and Abstract Algebra     Number theory     Discrete Mathematics, Set Theory and Logic     Advanced Probability and Statistics     Advanced Applied Math     Differential Equations     Business Math     Other Advanced Topics Math Resources     LaTex Help     Mathematics Software Discussion     Calculator Discussion     Useful Math Websites     Mathematics News MHF Lounge     Chat Room         Live Chat     Problem of the Week     Pre-prints and other original work     Formal Debates         Proposals Challenges and Puzzles     Puzzles     Math Challenge Problems MHF Feedback and Announcements Forum     Question, Feedback and Comments     Announcements Our Other "Help Forums"     Physics Help Forum     Chemistry Help Forum All times are GMT -7. The time now is 11:02 PM. Contact Us - Math Help - Archive - Top Powered by vBulletin® Version 3.7.3 Copyright ©2000 - 2009, Jelsoft Enterprises Ltd. SEO by vBSEO 3.2.0 ©2008, Crawlability, Inc. ©2005 - 2009 Math Help Forum

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