Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. formula: p=f(1+i)n f=p(1+i)n 1. how much must be i

Formula: P=F(1+i)n F=P(1+i)n 1. How much must be invested now to grow to $20,000 in...

50.1K

Verified Solution

Question

Accounting

image
image
Formula: P=F(1+i)n F=P(1+i)n 1. How much must be invested now to grow to $20,000 in six years if the annual interest rate is 4.0 percent compounded 1) annually, 2) semiannually 3) monthly? Formula: P=F(1+i)n 2. What total amount (Principal and interest) must be paid at the end of three years if $10000 is borrowed from a bank at 4 percent annually rate compounded 1) annually, 2) semiannually, 3) monthly 4) daily Interest on principal plus previously accumulated interest F=P(1+i)n Where F= Future worth P= Principal amount n= Number of interest periods i= Interest rate per period (as a decimal, not as a percent)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students