3 items are filed under this topic.
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Compound interest |
2010-06-01 |
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From Kenneth:
Hello:
I have a question regarding the following compound interest and future value
calculation.
Year 1 P + rP equals balance after the first year.
Year 2 (P + rP) + r(P + rP) equals balance after the second year.
Year 3 ? equals balance after the third year.
This question is in two parts.
1. What would follow for year three?
2. I know that a pattern will develop. What will it be so that I can determine
the extended pattern for following years ?
Answered by Penny Nom. |
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Saving for his daughter's education |
2009-01-15 |
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From George:
To save for his daughter’s university education at the end of each month Mr McLean sets aside £50 in a savings scheme paying 10% p.a. compounded monthly. He begins saving when his daughter is 3 years old. How much will he have saved by the time his daughter is 18?
Answered by Harley Weston. |
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Future value |
2002-06-27 |
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From Susan:
If one were to invest $115 a month for 20 years and expect a 4% annual return, what is the value of this money in 20 years?
Answered by Leeanne Boehm. |
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