i have five problems on this on my econ test tomorrow. PLEASE HELP! i've looked in my book and can't find anything! thank you :)(adsbygoogle = window.adsbygoogle || []).push({});

1. The problem statement, all variables and given/known data

Calculate compound interest:

principal: 65,000

rate: 5.25%

time: 1.5 years

it doesn't say how long it's going to be compounded

2. Relevant equations

i found this one on wikipedia http://en.wikipedia.org/wiki/Compound_interest :

A = P(1 + (r/n)) ^ (nt)

where,

P = principal amount (initial investment)

r = annual interest rate (as a decimal)

n = number of times the interest is compounded per year

t = number of years

A = amount after time t

and then i found this one...

A = P(1 + r)^t

where,

r = annual interest rate

t = number of years

P = principal amount

A = amount after time t

3. The attempt at a solution

i REALLY tried to calculate this, but i can't get the answer which is supposed to be $5185.36

please help me! i'd reallyreallyreally appreciate it :D

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# Homework Help: Compound Interest

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