Problema Solution
To determine the compound amount of an investment of $10,000 with an interest rate of 6% compounded monthly after 4 years requires you to use a table factor that goes beyond the Compound Interest Table. Calculate the new table factor for this investment.
Solution:
A=10000*(1+6%/12)^48 = 12704.90
F= 12704.90/(10000*4)= 6.76%
So the new table factor for this investment is 6.76%
Now using the table factor what is the compound amount for the $10,000 investment
Answer provided by our tutors
this site is intended for problems encountered in High School or College Algebra courses and this problem statement contains errors, hence it will simply take too much time to sort through and solve this non-algebra-based problem
If
F= 12704.90/(10000*4)
then
F = 0.3176225, which is approximately equal to 31.8%