ARGH! Need maths help!
Mar. 8th, 2010 08:01 pmI was once good at maths.
I know I should know how to do this, but I cannot remember enough to see if my method is effective or not. I found a website that will let me punch in numbers and give me an answer, but I want to check it! So I am hoping that
shocolate or someone similarly gifted is up and about.
I start with $50. Every week, I add $50. I have a compounding interest rate of 9.96%. I compound it annually, or monthly (two results). What do I have at the end of 21 years?
More than happy to do all the actual working if someone can remind me of what the formulae are.
I know I should know how to do this, but I cannot remember enough to see if my method is effective or not. I found a website that will let me punch in numbers and give me an answer, but I want to check it! So I am hoping that
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I start with $50. Every week, I add $50. I have a compounding interest rate of 9.96%. I compound it annually, or monthly (two results). What do I have at the end of 21 years?
More than happy to do all the actual working if someone can remind me of what the formulae are.