Question
Asked Oct 8, 2019

How do I do this:

Tried a few manually - took a couple of hours each

got the right answer, but think there must be an easier way to calculate

$4000 for 4 yrs at 1.2% int compounded monthly

I am brand new to the TI-30x Calculator

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Expert Answer

Step 1

To calculate the compound interest under the given conditions

Step 2

Formula for the amo...

Formula for the amount earned
A = P 1
here
n
P principal,initial investment
r interest rate (decimal)
n mumber of times compounded
(in one year)
t = number of years
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Formula for the amount earned A = P 1 here n P principal,initial investment r interest rate (decimal) n mumber of times compounded (in one year) t = number of years

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