math help compound interest?

JohnS

Member
May 11, 2008
931
0
16
please help solve problem. 1) suppose you deposit $ 1,200 in an account with an annual interest rate of 6% compounded quarterly.
A) find the amount of money in the account after 8 years.

B) how many years will it take for the account to contain $ 2,400?

C) if the interest were compounded continuously, how much money would the account contain after 8 years?
 
http://math.about.com/od/formulas/a/compound.htm

http://qrc.depaul.edu/StudyGuide2009/Notes/Savings%20Accounts/Compound%20Interest.htm

online calculator

http://www.moneychimp.com/calculator/compound_interest_calculator.htm
 
Back
Top