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by spiritsoars54
Sun Feb 15, 2009 2:45 am
Forum: Uncategorized
Topic: Maturity value: $1400 principal, 16% rate, comp. quarterly
Replies: 1
Views: 4900

Maturity value: $1400 principal, 16% rate, comp. quarterly

I am having problems figuring out this problem with the eqation given, please HELP! :confused: Principal: $1400, Rate: 16%, Compounded: Quarterly, Time: 6 years. The formula: MV=P(1 + r/n) nt r = yearly interest rate n = number of periods the interest is compounded per year t = term of the loan in y...

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