Amount of Money

Algebra

Amount of Money

Postby Guest » Fri Jan 15, 2021 2:22 pm

One dollar is loaned for one hundred years, with 10% interest compounded annually. Determine amount.

One hundred years = 1200 months.

10% = .10

Unsure how to solve.
Guest
 

Re: Amount of Money

Postby Guest » Sat Jan 16, 2021 4:59 am

Formula is:
[tex]1 \times (1.1)^{100}[/tex]
Guest
 

Re: Amount of Money

Postby Guest » Sat Jan 16, 2021 2:44 pm

Thanks.
Guest
 


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