My Math Forum money problem!

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 April 30th, 2014, 12:23 PM #1 Member   Joined: Aug 2009 Posts: 41 Thanks: 0 money problem! 1. Suppose that 1000 is placed in a saving accounts at 10% per annum. How much is in the account at the end of one interest is a. compound once each year? b. compound quarterly? 2. A sum of 100 is placed in a saving account at 5% per annum compounded continuously. Assuming no subsequent withdrawals or deposits, when will the balance reach 150? Last edited by Tiome_nguyen; April 30th, 2014 at 12:59 PM.
 April 30th, 2014, 07:44 PM #2 Math Team   Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038 1a: 1000(1.10)^1 1b:1000(1+.10/4)^4 2: LOG(150/100)/.05 Thanks from Tiome_nguyen

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