#253 - {Official} Star Trek Trivia

[master_q 0]

{Official} Star Trek Trivia #253

Random Trivia - Intermediate Mathematics -- Application to Economics

 

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(I'm using $ to make life easier or at least make the question more understandable)

Quark invested a total of $12,000 at an annual interest rate of 9%.

What will be the balance after 5 years if it is compounded monthly?

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????????????????????

 

BONUS QUESTION: Using the same data what will the balance if it was continuously compounded? {+5 extra points}

 

 

Answering: Send myself a private message (do not answer here!)

 

Points: 5

 

 

Master Q

StarTrek_Master_Q@yahoo.com

[master_q 0]

Answer:

 

 

about $18,788.17

 

 

BONUS QUESTION ~ $18,819.75

 

 

Master Q

StarTrek_Master_Q@yahoo.com