Need help with financial maths | Mathematics | Page 1

ionic knoll May 13, 2025, 8:04 AM

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Please someone help me solve these questions

fallow gulchBOT May 13, 2025, 8:04 AM

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low void May 14, 2025, 2:00 AM

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Are we assuming it accrues interest once every year or accrues interest continually

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If it’s once per year you would use the following equation

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$A = P(1+\frac{r}{n})^{n\times t}$

grave pantherBOT May 14, 2025, 2:04 AM

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TimmyBo

low void May 14, 2025, 2:04 AM

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P is the principal/starting amount

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r is your interest rate

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n is the number of times you compound per year

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t is time in years

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And A is the account balance

#Need help with financial maths