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April 30th, 2014, 12:23 PM   #1
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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.
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April 30th, 2014, 07:44 PM   #2
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1a: 1000(1.10)^1
1b:1000(1+.10/4)^4

2: LOG(150/100)/.05
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