ARGH! Need maths help!

[blamebrampton]

I 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.

Comments

[shocolate.livejournal.com]

*buckles under the pressure*

having a maths degree doesn't seem to help in the Real World...

[blamebrampton.livejournal.com]

HEE! Well, to be honest, the only thing degrees in English and Philosophy are good for is coming up with convincing explanations for why you're late for work ...

[oceaxe.livejournal.com]

Agreed. Though in my case, it's theater and philosophy.

[blamebrampton.livejournal.com]

You would have the skills to be able to avoid giggling during said explanations ;-)

[oceaxe.livejournal.com]

Indeed. I have used "My basement flooded," "I had a terrible nosebleed," "I had a 'female' medical emergency," "I ran over a cat," and many others. The 'female' medical emergency is the best though, because they will literally NEVER inquire about that.