Homework Answers
| Principal | 1500 | ||
| time | 18 | months | |
| interest | 5% | ||
| Compounding | Monthly | ||
| Amount= | 1500*(1+5%/12)^18 | ||
| Amount= | 1,616.57 | ||
| Principal | P | ||
| time | 5 | Years or 60 months | |
| interest | 6% | ||
| Compounding | Monthly | ||
| Amount | 15000 | ||
| Principal= | 15000/(1+6%/12)^60 | ||
| Principal= | 11,120.58 | ||
| Principal | 2000 | ||
| time | 2 | Years or 24 months | |
| interest | 0.120% | monthly | |
| Amount= | 2000*(1+0.12%)^24 | ||
| Amount= | 2,058.40 | ||
| Interest | 58.40 | ||
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